Developer Information

Information for Prospective Developers

The City of Osseo is eager to work with prospective Developers in bringing new projects to the City. Not sure how to start? It's easy. Simply contact City staff for more information, or check out some of the tools the City of Osseo has at it's disposal to help facilitate development within the City:

Tax Increment Financing (TIF)
TIF is a public financing method that is used as a subsidy for redevelopment, infrastructure, and other community improvement projects. Simply put, TIF uses future gains in property taxes to subsidize current improvements, which are projected to create the conditions for said gains. The completion of a public or private project often results in an increase in the value of surrounding real estate, which generates additional tax revenue. That additional revenue is then used to help offset the costs of a project in order to get it built or completed.

Tax Abatement
Tax abatement is the reduction of or the exemption from taxes granted by a City for a specified period of time, usually to encourage certain activities such as development or redevelopment. This encourages Developers to build since the City exempts taxes normally assigned to the project for a period of time, thus reducing the Developer's overall cost. 

Low Interest Loans
Usually through City programs, home owners and potential Developers may apply for low interest or forgiveness loans to make improvements on properties. The loaned money is then provided to the Developer to complete projects, and the City pays the small interest payments on the loan.

Community Development Block Grant
The program works to ensure decent affordable housing, to provide services to the most vulnerable in our communities, and to create jobs through the expansion and retention of businesses. The US Department of Housing and Urban Development uses a formula comprised of several measures of community need to determine each grant amount awarded to cities and regions.

Scattered Site Development/Property Acquisition
This program involves the City or County acquiring blighted properties, many times several properties on the same block, demolishing the old structure(s), combining the properties together, and redeveloping the site. Cities can use money from many different funds, provided they are earmarked for redevelopment purposes. This is a very effective tool which combines several smaller, un-used properties together to form a much larger piece of land aimed for development. Cities will often deed the land to a Developer as a method of facilitating development. 

The City of Osseo would love to work with prospective Developers on bringing new and exciting projects to our community. If you would like to learn more about how the City of Osseo can help you build your project, please contact our Administrative Services staff.

You can check available properties in the City of Osseo.