Council OKs tax break for new DeMers apartments

City leaders on Monday approved a tax break for a $6 million, five-story apartment project on DeMers Avenue.

City Council members voted unanimously to approve Renaissance Zone Project GF-61 — better known as “The Argyle” apartments — and authorized city staff to forward the project to the North Dakota Department of Commerce for further approval.

Cities can offer five-year property tax exemptions to construction or renovation projects in a Renaissance Zone, and the state can do likewise with business income taxes. That means, until 2024, the new apartments would be taxed by both as if the lot on the 300 block of DeMers was still empty.

The Argyle, according to documents supplied to council members, would have a bar, restaurant, or retail outlet on its first floor, offices on the second floor, and 24 market-rate apartments on floors 3-5. The state, which has yet to OK the tax break on its end, would give up about $20,000 in business income taxes over the next five years. The city, plus other taxing authorities like Grand Forks Public Schools, would give up about $300,000 in property taxes, according to estimates provided to city staff.

Renaissance Zone applications need to

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