VALLEY CITY, N.D. (NewsDakota.com) Steps were taken to secure the financing and construction of a new National Guard Facility in Valley City yesterday.
Valley City/Barnes County Development Corporation requested to authorize a portion of future sales tax revenue to support the purchase of land for the guard facility and private development. Financing between $3.5 to $3.75 million would be secured through one or more local lenders in Valley City.
Jennifer Feist, Valley City/Barnes County Economic Development Director said the $31 million guard facility will increase the number of full-time soldiers to 35.
The Valley City commission approved a request to pursue steps to extend the city’s 1 percent sales tax now through 2029 for economic development.
The request would require a vote and the Development Corporation proposed holding a public meeting to discuss the plan and to place the advisory vote during the November 6 election.
The Development Corporation requested the approval of Tax Increment financing of $1.25 million to provide infrastructure for the National Guard Facility and private sector development for 15 years, including a proposal to establish an industrial development park.
Feist said, 100 new jobs would be created in the next 12 to 18 months and between 275 to 300 over the next 5 to 7 years in conjunction with the new private sector development and investment near the new National Guard facility in Valley City.
The Development Corporation will also pursue two grants that will help support infrastructure costs in the development of the new National Guard facility. The city unanimously approved all those requests Monday.
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