City Council Meeting Date: November 12, 2024
To: Mayor and City Council
City Administrator
Rice County Commissioners
County Administrator
From: Nate Carlson, Economic Development Coordinator
Title
Joint Public Hearing with Rice County Commissioners - Tax Abatement on 115 5th Street (former Northfield News Building)
Body
Action Requested:
The Northfield City Council shall hold a joint public hearing with Rice County Commissioners to contemplate the use of tax abatement for 115 5th Street.
Summary Report:
The City of Northfield acquired key downtown Northfield properties, including the former Northfield News building at 115 5th Street, for future redevelopment. The sale of the Northfield News site to Loon Liquors is emblematic of the City's commitment to working with the local business community to create winning scenarios for all involved. The City of Northfield is committed to both helping local businesses expand and attracting new business enterprises to Northfield, as we continue to cultivate an environment that keeps Northfield a community with great appeal for everyone.
As a homegrown entrepreneurial endeavor, Loon Liquors is committed to the Northfield area. From its current location on Armstrong Road, the craft distillery has become a regional economic multiplier through its commitments to partnering with local farmers and other local business enterprises and supporting tourism in the region. Loon Liquors is a destination distillery that draws people to Northfield for a unique educational and entertaining experience. The purchase of this site will afford the business an expansion opportunity and contribute to the vitality of the downtown business district. The Loon Liquors team's proposal has significant
potential to enhance the already popular tourist destination's ability to draw more visitors to Downtown Northfield by featuring distillery tours, high-quality alcoholic and non-alcoholic craft beverages, and an expanded food menu that capt...
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