Pursuant to Section 469.174, subd. 10(d) of the TIF Act, the Authority may deem parcels as occupied by structurally substandard buildings before the demolition or removal of the buildings, demolish those buildings, and create a redevelopment tax increment district within three years of the demolition.
On September 17, 2017, both the Authority and the City adopted resolutions deeming the building located on the parcel included in the TIF District as substandard based on a report from LHB. The City then ordered the demolition of the structure which was completed in Spring 2018.
Enclave Development LLC of Fargo North Dakota is proposing to develop approximately 80 units of market rate housing and approximately 100 units of parking including a large portion of those under the building. At street level on Holmes Street, the building would have retail/commercial space and at Second and Holmes, the entrance to the apartment building.
Enclave is one of the largest dense living developers in North Dakota. They have earned a reputation for completing financially successful projects and has grown through strategic partnerships, strong community relationships and building its reputation of integrity with a commitment to quality - one project at a time. Enclave is one of North Dakota's leading fully integrated real estate investment and development firms. Enclave serves as both the investor and builders of their projects created a unique vested interest in the development's success. They are known for innovative designs, high quality craftsmanship, meeting schedules and delivering projects on budget. They have completed more than 30 developments.
Enclave is still working towards a final design on their development but have included a preliminary concept.
The TIF financing would be used to fund:
1. Reimbursement to the city for demolition costs
2. Excavation and shoring of the site along with the removal of the former city hall foundation walls, asbestos and bedrock. This will be the underground parking area.
3. Streetscape on Holmes and Second that match the current Downtown plans including new sidewalks, street trees and lighting.
4. Utility relocations and installations in the alley and on Holmes.
5. Repaving parts of Holmes.
6. Concrete alley