People from Grand Forks?
My understanding of this is that money from the city budget is being given to several developers to build luxury apartments on the south end of town. We're talking millions of $$$ here. Instead of letting the market dictate supply and demand, the city has decided to provide incentives to these select contractors to build super fancy and expensive apartments. These are not the kind of places UND students would live. Additionally, these projects don't have to pay any property taxes for 20 years (I believe). What a sweetheart deal! Meanwhile, the infrastructure costs for these new buildings will be absorbed by the current tax paying citizens. Get ready for multiple increases over the next few years! Watched the Grand Forks City Council meeting from this week on YouTube and it was quite eye-opening. Go to 3:35:00 for a perspective from a local GF businessman.