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Village of Somerset property to be declared 'distressed'

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The village of Somerset had big plans for the 99 acres it purchased in 2009.

Unfortunately, the economy had other plans.

The property -- Tax Incremental District (TID) #4 -- is located off Hwy. 35N. There has not been any development in the area to generate revenue to pay off the approximate $3 million debt.

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When the economy took a downturn and all new construction ceased, the land sat empty.

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