Jasper EDC Backs TIF Funding for Downtown Redevelopment

A declining Jasper landmark could soon become a hub for residential and commercial activity. Early Wednesday morning, the Jasper Economic Development Commission (EDC) convened to review and vote on Resolution EDC 2026-1 to approve financing and EDC report for the Woodworks construction project. Specifically, the resolution authorizes a conditional expenditure agreement and accompanying EDC report to support the Woodworks Jasper LLC project, which will restore and convert the old Jasper Desk building into a hybrid of residential and commercial space. 

As part of the funding for the project, the City would need to provide a $1 million match. In order to use the TIF funds for the project, the city has to approve the conditional spending agreement and add the project to the Central TIF. The EDC also discussed providing a recommendation to the Common Council for use of Central TIF dollars and related approvals. President Andy Seger said the pool has been the largest TIF project to date, and City Attorney Renee Kabrick confirmed the bond will extend through 2037. If Woodworks LLC receives final approval, this will be the next largest TIF-funded project for the City. 
 
Kabrick explained the multi-step approval process, saying the EDC acts as a recommending body and the Council has final authority over abatements and use of TIF funds. The EDC review and scoring are complete. The Common Council passed a declaratory resolution for the tax abatement and will hold a public hearing and final confirmatory vote in October. The Planning Commission and RDC have approved adding the project to the Central TIF Economic Development Plan. The EDC review and approval of the conditional expenditure agreement is the next step, followed by its recommendation for the Council to approve the conditional expenditure agreement and add the project to the plan. 

Appearing for Woodworks, Ruger Kerstiens noted, “this is an investment on the city's behalf to turn a very much underutilized building into an asset for the city long-term, which will pay back dividends for years and years to come.” The Commission voted to approve the resolution and agreed to forward the report and resolution to the Common Council for its consideration.  

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- By Drew Hasselbring