At a work session on Monday, January 20th, the Prescott City Council took up the issue of economic development in Prescott. City Administrator Jayne Brand reviewed the housing projects which have been proposed within the city, along with downtown redevelopment and economic development, including proposed riverfront project, and the possible purchase of additional land for economic development. Sean Lenz of Ehlers reviewed the tax increment districts within the city. There were discussions on when district 3 might be closed. There were also discussions on how the TIF could help with workforce housing. District 4 was reviewed to discuss how the riverfront project could be paid for by this TIF. District 5 was reviewed to discuss the payment of Pearl Street north of Highway 10 and the possibility of purchasing additional land for economic development. The council has set a meeting for Tuesday, February 11th, at 6 PM to discuss the issues further.
