By MAGGIE SCHUETTE-VOSS
It's going to be an equal, three way split . . . of the property tax dollars, that is.
Tuesday night, council member Galen Hochstein explained to the Lester Prairie School Board how the city's Tax Increment Financing District (TIF) will affect the school district.
As part of an incentive package to Formative Engineering Corporation, the city has agreed to set up a TIF district. The TIF district gives the city a set amount of dollars with which to pay back bonds.
Formative plans to build a new facility either near its present site or at the north corner of Central Ave. and Co. Rd. 9.
The bonds are sold to finance items such as sewer and water. None of the money can go towards a new building.
When the TIF is established, for up to eight years Formative's property tax money will be divided equally between the city, school district, and county.
Initially, the school district probably will not get as much tax money as if Formative were not located in the TIF. The school board concurred that losing some tax money in the short term would be outweighed in the long term by having Formative in the city.
On a motion by Murl Kletscher, the board passed a resolution supporting the creation of any TIF in the city.
The board agreed to post "No Snowmobiling" signs on the entire playground.
Board member Gene Starke dissented, stating he felt students should not be allowed to ride snowmobiles to school at all.
Joe Miller, dean of students, said some adults do ride snowmobiles to after school activities.
There was some talk with new board member Fred Blaser about the snowmobile ordinance and if snowmobiles were allowed to be ridden in the area of the school. Blaser said he would look over the ordinance and get back to the board.