semitruck is seen pulling out of Broan-NuTone on Tuesday
afternoon in Hartford.
John Ehlke/Daily News
HARTFORD — In September, the city’s Common Council
approved the creation of new Tax Incremental Finance
District No. 11 covering about 39 acres on the city’s
northwest side. The creation of the new district was
prompted to aid Broan-NuTone as it completes a major
expansion of its facilities within that district.
Tuesday night, during their regular monthly meeting at
City Hall, aldermen unanimously approved a memorandum of
understanding between the two parties that puts in
writing certain conditions for managing the new TIF
District through the 20 years it will exist.
“Per the terms of the MOU the city will disperse 60
percent of the increment (increase in property taxes due
to improvements in the district) created by the (newly
expanded) Broan distribution center and other accessible
property improvements back to Broan-NuTone on an annual
basis for 20 years,” said City Planner Justin Drew. “The
city will receive 40 percent of those funds to use for
possible improvements within the district.”
Drew said Broan-NuTone wanted the agreement so “they
could show they have a guaranteed revenue stream to help
pay for the costs for the project and for additional
“They also wanted a guarantee that the TIF District
would remain open for the entire 20 years so they would
receive its full benefit,” Drew said.
TIF district uses additional property taxes generated
within its borders through increased economic
development to pay for building infrastructure such as
sewer and water, storm water management, roads, access
to electricity and natural gas as well as other
improvements needed to spur development.
city has discussed using some of the TIF funds to build
a new bridge on North Wacker Drive, construct a new
water main in the area and complete some other needed
Construction on Broan-NuTone’s project began in
September. It involves creating a 140,000-square-foot
addition to the company’s complex along Madison Drive.
The city and consultants have estimated the new TIF
District could generate an additional $5.9 million in
tax revenue during the 20 years it will exist.
Broan-NuTone officials have told city leaders the
project and a proposed office addition could not have
taken place without the implementation of the new TIF
district. The development of the project for expanded
manufacturing use requires a major capital investment
beyond the financial capability of Broan-NuTone, Drew
proposed addition is for new offices, a conference room
and restrooms as well as a new lab and test space,” Drew
said. “The anticipated result will be a model, high tech
industrial facility offering higher employment and a
larger property valuation than would have been possible
under any other land use.”
Alderman Roger Randolph said he thought the agreement
was “a great move.” Other members of the Council agreed.
officials said earlier the company already averages
about 350 trucks each day at the facility and after the
expansion and other changes are completed that number
said normally an MOU is followed by a full-fledged
“However, in this case, the MOU is comprehensive for the
purposes of the projects undertaken by Broad and the
incentive provided by TIF 11 and a development agreement
is not needed,” Drew said.
<<EARLIER: Site plan OK’d for office addition at
Broan-NuTone in Hartford
<<EARLIER: Hartford Common Council
approves creating new TIF district
<<EARLIER: Permit approved for expansion