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Mitchell Mulls $1.5M TIF for Workforce Housing

City of Mitchell
Disclosed value
$1,495,142
From agenda
Document date
Sep 12, 2022
Term
20 years

The 30-second brief

What it covers

City of Mitchell is considering a tax increment financing (TIF) agreement with Stencil Group II for up to $1,495,142 over 20 years to support the Ramada Hotel redevelopment into workforce housing. The project aims to create a 90-unit apartment complex with rents below 80% area median income, stimulating economic growth and providing affordable housing options.

Who holds it

Stencil Group holds this loan contract with City of Mitchell. Its other public contracts on record include work for City of Dundas and City of Yankton.

What happens next

Term as filed: 20 years.

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Contract details

Contract type
Loan
Amount
$1,495,142
Document date
September 12, 2022
Term
20 years
Vendor
Stencil Group
Agency
City of Mitchell
Source document
city_planning_commission_agenda_september_12_2022.pdf (Agenda)

Stencil Group's other public contracts

City of Dundas, MinnesotaStencil Group To Build Cannon River Lofts · Aug 23, 2026City of Yankton, South DakotaStencil Group Receives TID Reimbursement Payment · Jul 27, 2026$45.1KCity of Pierre, South DakotaPlanning Commission Recommends Apartment Project by Stencil Group · Apr 27, 2026UndisclosedCity of Pierre, South DakotaStencil Group to Build 92-Unit Downtown Apartment Complex · Mar 31, 2026UndisclosedHousing Authority of the Town of Douglas, WyomingURA Development Agreement For Seven Trails Approved · Mar 23, 2026UndisclosedAll Stencil Group contractsVendor profile

More City of Mitchell contracts

Tour De Corn$3,000 grant approved for Tour de Corn · Aug 12, 2025$3KPowerplay Hockey Clinic$2,000 grant possible for Powerplay Hockey Clinic · Aug 12, 2025$2KSchoenfelder ConstructionSchoenfelder Construction contract decreased by $32,569.00 · Aug 4, 2025$32.6KBarr Engineering Co.Barr Engineering gets $798,500 Work Order Approval · Aug 4, 2025$798.5KSpn S & AssociatesHighway 37 utilities engineering payment approved · Aug 4, 2025$7.8KAll City of Mitchell activityAgency profile

Questions about this contract

Who was awarded the loan contract by City of Mitchell?

Stencil Group was awarded this loan contract by City of Mitchell, as recorded on September 12, 2022. The contract value is $1,495,142.

How much is the Stencil Group contract with City of Mitchell worth?

The Stencil Group contract with City of Mitchell is valued at $1,495,142, covering loan work.

What type of contract is this?

This is a Loan contract, documented as a agenda record.

Where was this contract approved?

This contract appears in city_planning_commission_agenda_september_12_2022.pdf (Agenda), dated September 12, 2022 from City of Mitchell. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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What other contracts does Stencil Group hold?

Stencil Group may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

What is City of Mitchell currently buying?

Explore City of Mitchell's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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