Watertown Mayor Sarah Caron says any assessments made against property in Downtown Watertown in what is called the Urban Renewal District would be used to improve that area of the community. In remarks made on KXLG’s From The Desk Of The Mayor the mayor said each year the City Council meets to decide whether or not to implement an Urban Renewal Tax.
She said it does cost the city some money though.
She was clear in pointing out that none of the TIF money or Urban Renewal District dollars would be earmarked for the Loft apartment building itself.
The Urban District map hasn’t changed and, although there are some homes in that area of downtown Watertown, only commercial businesses would be charged. The amount assessed could range from 33 dollars to a maximum of 1,500 dollars yearly. She says the downtown has momentum going and they want to keep it moving. Caron added that downtown areas across the nation are coming back and that it is a good thing when the community can support that trend. She says that, without the urban district dollars, there would be no money to do any projects.