Contact Us

Developer of Miracle Mile Project Seeks More City Assistance

Kim David/Townsquare Media
Kim David/Townsquare Media

Rochester, MN (KROC AM News) – The developer of the Miracle Mile housing project has run into some serious problems at the site and is asking the city for more money.

As the site was being prepared, it was discovered a section of the bedrock was not suitable for footings. This has required more work to allow the project to proceed – and the unexpected problem has driven up the construction cost by $1.3-million.

The developer is now asking the city for an extra $650,000 in Tax Increment Financing to help cover the extra cost. The city earlier approved TIF funds of $2.9-million for the project.

The City Council is scheduled to vote on the request Wednesday evening.

The staff memo summarizing the issue says “with no ability to generate any revenue to offset that expense, there is a likelihood the project will not move forward and there will be a major standstill or possibly be abandoned.”

The extra work has pushed the expected completion date back two months to Nov 30 next year.

Ironically, developer Javon Bea asked for a higher amount of public assistance for the $36-million project earlier this year. Staff had recommended $2.9-million in tax increment financing to cover infrastructure costs. Bea asked for $3.4-million. The council went with the staff recommendation. If the new request is approved, the TIF total will rise to $3.5-million.

For 24/7 news and sports check KROC AM and follow KROC-AM on Facebook.

Subscribe to Our Newsletter

Best of Y105

Recommended for You

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to http://y105fm.com using your original account information.

*Please note that your prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Not a member? Sign up here

Sign up for Y105 Rochester quickly by connecting your Facebook account. It's just as secure and no password to remember!

Sign up to have exclusive Y105 Rochester contests, events, coupons, presales, and much more delivered to you for FREE.