“A lot of our longest-standing commercial and manufacturing seats are by family-owned business,” Thunstrom highlights. The deep-rooted business community has been instrumental in the city’s economic stability and growth. Financially, the city leverages tools like Tax Increment Financing (TIF) and tax abatement to support new developments. The Economic Development Authority (EDA) also plays a vital role, acquiring and preparing there were concerns about the construction’s environmental impact. However, through careful planning and collaboration with environmental experts, the city and developers were able to design a project that minimized the impact on the wetlands while still meeting the community’s needs. STRENGTH AND STABILITY St. Francis benefits from a strong family-owned business base that provides stability and continuity. 7 CIVIL AND MUNICIPAL VOLUME 05, ISSUE 08 ST. FRANCIS, MN
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