City council approves tax incentive for The Tracks

Minot – A Minot developer seeking tax increment financing for a third project had its initial request granted by the Minot City Council Tuesday.

EPIC Companies sought a five-year, $2.88 million TIF for the first phase of The Tracks, a mixed-use development in southwest Minot near the future hospital. Existing property taxes would continue to be collected for the taxing entities, but the additional taxes collected on the property improvements would go toward the project development for five years.