Envision Shakopee

Incentivising office development The city should further incentivize office development by allowing dense office product, use of financial incentives and the targeted disposition of city-owned land. 1. First, the city should ensure that increased density and commercial use is allowable through zoning in key areas to encourage a vibrant environment and align land use ordinances with market expectations. 2. Next, the city can consider financial incentives like Tax Increment Financing (TIF), Tax Abatement and discounted land to make otherwise infeasible but quality office projects with an active ground floor financially viable. 3. Finally, the city should maximize the impact of city-owned land by issuing RFPs that clearly articulate the city’s vision and goals for the site, the market opportunities in the city and, if there is a financial gap, the process and funding mechanisms the city will undertake to support high-quality private development on its land. Though this process may not result in an immediate return for the city, this process can act as a catalyst for other private investment, jump starting interest in a Shakopee office market and supporting long-term economic growth.

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