[{"_1":2,"_99":-5,"_100":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75,87],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",6688064,"mediaKeyId","2172227-98640620ae233a56e56c36cd12501fbc","parentId",2172227,"title","Council discusses revenue bond, GO bond and TIF as tools to fund facilities plan","audioSeconds",2748,"startMs",648600,"endMs",3396710,"viewUrl","/Search/View?dp=1&key=2172227-98640620ae233a56e56c36cd12501fbc&start=648&end=3396","thumbnailUrl","https://assets.pipeline.soar.com/2172227-98640620ae233a56e56c36cd12501fbc/thumbnail_648600.jpg","articleUrl","/articles/6688064/Indianola/Warren-County/Iowa/Council-discusses-revenue-bond-GO-bond-and-TIF-as-tools-to-fund-facilities-plan","mediaUrl","https://secure.pipeline.soar.com/6688064-8d5211d4f7a555141bbbbfac8ead4d93/orig.mp4?Expires=1776139895&Signature=id8ny2RU1lw1UER0O2IXWS5Iye8S2-VEicfMCba-b~hs1J9mU-ZAUQAcxbQ5hfTjv7BijYEpXHVsmYeqNR0wOdegXOGxvZJ0RpiIxawblfY84RGYvywL69ZO6JzL0gQRLubjRua9biXFwPmjxEwxsi~eaX60UL~dML51adR37~g23e7-csLryyrg5hFFNRUmrCwWc4l3x17ijodAlevRE~7-E~bRu8r5iJD~KSqugY4ppx-LzQexGLYFk1QU9cwMotP-KIpBs4P~ql6QaElJ1I96tEIZua0xZO13q1rQOJWIOopFPsiXeEiee-RkRpfHpDqtlJ~H33epVSoQZrdwlw__&Key-Pair-Id=KUT5TJCACFTXG","author","Indianola","date","2025-01-28T05:28:17.053Z","article","Indianola — Council members discussed financing strategies for a multi-project facilities plan, including revenue bonds tied to local option sales tax, general-obligation (GO) bonds and tax increment financing (TIF) within the downtown district.

Several council members said a revenue bond — which would be repaid from local option sales tax revenue rather than property taxes — may be the quickest way to begin projects without a longer ballot timeline for GO bonds. A councilmember cited the city’s approximate GO-bond capacity at $27 million and said revenue-bond options could vary (council discussion referenced figures in the mid-20s to low-30s million range depending on structure); council members asked staff to provide formal estimates.

Why it matters: Financing choice affects which projects can move forward, how much the city may borrow now, and whether a public vote is required. Council members noted that a revenue bond spreads costs across sales-tax payers (including non-residents who shop locally) while GO bonds typically require an election and fall on property taxpayers.

Details discussed: Councilmembers recited several planning figures during discussion: a rough $12.5 million rehabilitation estimate for the Regions building; preliminary small-contractor bids of about $50,000 for lighting/electrical for part of the project; JT’s $180,000 figure for office finishes; and a cited GO bond capacity figure of about $27,000,000. One councilmember said conservative estimates forecast GO-bond capacity rising to roughly $42 million in five years and to about $54 million in 10 years as older debt is paid down.

Council direction: Members asked staff to prepare bond planning materials and to have OPN include cost ranges for the Regions building and other facilities so the council could compare financing options at the next stages. No formal vote was taken in the study session; council members said the city should have a bond-ready plan by summer if the council decides to proceed.

Ending: Staff will return with financing scenarios (revenue bond, GO bond and use of available TIF funds) and with OPN’s estimates so council can weigh affordability, election timelines and the potential use of TIF dollars for downtown projects.","mediaType","Video","parentTitle","Council Meeting - Study Session Jan 27, 2025","oneSentenceSummary","Council members compared revenue bonds, general-obligation (GO) bonds and TIF dollars as funding options while urging quick action to lock in financing for a package of facilities upgrades; no formal financing decision was made at the study session.","taxTitle","Indianola, Warren County, Iowa","taxId",55656,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6688069,"Council prioritizes environmental testing, notes Friends of the Library purchase in Sixth Street sub area discussion",1402,794060,2196895,"/Search/View?dp=1&key=2172227-98640620ae233a56e56c36cd12501fbc&start=794&end=2196","https://assets.pipeline.soar.com/2172227-98640620ae233a56e56c36cd12501fbc/thumbnail_794060.jpg","/articles/6688069/Indianola/Warren-County/Iowa/Council-prioritizes-environmental-testing-notes-Friends-of-the-Library-purchase-in-Sixth-Street-sub-area-discussion","https://secure.pipeline.soar.com/6688069-ceaf86a7bea890ce57c0a217133e71c5/orig.mp4?Expires=1776139895&Signature=WrPgICtqTA8mn7tiLXH1M3Ed-HWwrwK6J7ACU0zPZPK119gF-jIwGWKWPQWnaqOn4zHqWEyOSDH-Eo2ZvFuAy8~k7RTETY2HBvdvVOp1Vuk0n~rO12Ln4ubNfOCJgbASa2e4bl7fmQZ9sw9V4FEEVsv~vk6Q3KpbIcGXxgfDEQTLX3-9FgTVOs1Y-cSVLgeIrPRAv6vwyaMCAvjC6Soa0-vLxI1BDJ-dbAaRs5i4KaePcGcFdNXiH8lrRAPuc6eAPNbR4JqIACv5a3MFxJKJp424nHY5xJeNZur1tkL3JrU6KyFtrYp8ogMAyhTaNJdaz~XQ6G85uMTsjTKIQqz8lA__&Key-Pair-Id=KUT5TJCACFTXG","Indianola — During the study session the City Council emphasized the need for additional environmental testing in the Sixth Street sub area before finalizing plans for a new library, housing or other redevelopment.

Council members said the city has only limited, time-limited phase 1 results on the site and that phase 1 reports expire after 180 days. Several members urged staff to obtain phase 2 testing to clarify remediation needs and potential costs before the council commits to placing the library or new housing on the site.

Jackie, a city staff member, told the council she had located an email indicating the county had done phase 2 testing and said she would obtain and share those reports. Councilmembers repeatedly said that unknown remediation costs — including asbestos removal in older buildings — could make redevelopment financially infeasible and that the council should know reclamation numbers before making land-use decisions.

Friends of the Library: Councilmembers also discussed that the Friends of the Library has been working to buy a corner property adjacent to the Sixth Street sub area and that the organization is preparing to fundraise for a library site. Jackie said the corner lot currently has a residential structure that has been occupied by one family for more than a century.

Developer role and RFPs: Several council members proposed the city issue a request for proposals (RFP) to allow private developers to take on development risk, including remediation, in exchange for incentives such as proximity to the bike trail and a new civic library. Others said developers may be reluctant to take on contamination risk without incentives.

Why it matters: Phase 2 testing clarifies soil contamination and remediation scope; those results will affect whether the city or a private developer can economically build a library and housing in the sub area. Council members said the Sixth Street sub area plan is central to downtown revitalization and tax-base growth but that the scale of contamination could change feasibility.

Next steps: Council asked staff to obtain any county phase 2 reports and, if needed, to commission phase 1/2 testing to produce current environmental data. Council members also asked staff to explore using developer-led RFPs to transfer remediation risk where appropriate and to coordinate with Friends of the Library on the adjacent parcel purchase and fundraising plans.

Ending: Council agreed on the need for clearer environmental data before making decisions that would shape the sub area’s redevelopment and its potential to increase commercial tax base near downtown.","Council members urged phase 2 environmental testing for the Sixth Street sub area before committing to locating the new library or housing there; staff said Friends of the Library is pursuing a corner property adjacent to the site and that the county may have completed phase 2 testing already.",{"_33":88,"_35":36,"_37":38,"_39":89,"_41":90,"_43":91,"_45":92,"_47":93,"_49":94,"_51":95,"_53":96,"_55":56,"_57":58,"_59":97,"_61":62,"_63":64,"_65":98,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6688073,"Council directs staff to ask architect for cost estimates to repurpose Regions Bank building for city administration",3368,23544,3392000,"/Search/View?dp=1&key=2172227-98640620ae233a56e56c36cd12501fbc&start=23&end=3392","https://assets.pipeline.soar.com/2172227-98640620ae233a56e56c36cd12501fbc/thumbnail_23544.jpg","/articles/6688073/Indianola/Warren-County/Iowa/Council-directs-staff-to-ask-architect-for-cost-estimates-to-repurpose-Regions-Bank-building-for-city-administration","https://secure.pipeline.soar.com/6688073-988375d06c6406fc994d7aaa9d71d171/orig.mp4?Expires=1776139895&Signature=Aive7R4t8ahxDrr5UlhigFIf6MGSPms9hxEo~hzbSCivu~5n~au41JGFdI19utWoE1Pd6kdFHGD6DVFd6mypQJ0Nqtxc7-mXC6sCIVriazR9tMxBjaOsmsEwNgSTl8RBzlMOUdIyyVyVRcgIcF27eub7PR9KG6-wpufulUpvpFG1TODjQ0s2RHmaEBOZCO0zcGXs8sCwR21SKuU14akq4AsU023qiMV1UxFgV0MBkIzYnZKNpaR-xsVwzYzBfcggXtZvEBB9dj~yzuu~ZXh9ArGCD0bgWXUiVaOV0pb3k49dfmilwwmUfZVpFTiSRDavIRe5gw3nDmBS3uQsGV5NkQ__&Key-Pair-Id=KUT5TJCACFTXG","Indianola — At a study session, the City Council directed staff to ask the city's architect to produce high-level cost estimates to rehabilitate the city-owned Regions Bank building and to scope what it would take to move city administration and some services there.

Council members said the building could address several facility needs — including council chambers and administrative offices — and asked staff to quantify the cost difference if an elevator is required and what temporary buildouts would cost. The council also discussed whether police or other departments would be located there temporarily or permanently, but made no final decision on long-term occupancy.

Councilmember Christina (first name only) said after touring the building, “rip the band aid off” and urged the council to consider the building seriously because of its size and existing investments such as a new roof and boilers. Councilmember Steve (first name only) and other council members urged incremental steps: get architect estimates, then decide which departments to move and which to plan for later.

Why it matters: Council members framed the Regions building as a potential near-term solution to multiple facilities problems — council chambers, administration and some department offices — while acknowledging that longer-term solutions for fire and public works would require additional projects. Several council members emphasized that major mechanical or structural work would make the building feel permanent to residents and therefore merits careful cost analysis.

Details and next steps: Staff said they have preliminary contractor quotes for limited work (lighting and electrical) in the low tens of thousands and that JT estimated roughly $180,000 to finish office ceilings and related interior work. One council member cited an estimate of about $12.5 million as the cost to bring the building to full functionality; council members asked staff and the architect (OPN) for confirmation and a clear cost delta for adding an elevator or other permanent items.

Council direction: The group agreed to ask OPN (the city's retained architecture/engineering firm) to deliver:
- A high-level estimate to adapt the Regions building for city administration (community development, IT and administrative staff) and to identify whether that scope requires an elevator and how much an elevator would change costs.
- A separate estimate for limited, temporary buildouts that would allow staff or police to occupy parts of the building while longer-term projects proceed.
- High-level cost ranges for street department and fire department facility needs the firm had previously scoped so council can compare options.

Councilmembers repeatedly emphasized this is a scoping and planning step only; the meeting was a study session and there was no formal vote. Jackie (staff member) was directed to contact OPN and the Iowa Economic Development/Main Street architect contacts to understand what services the state program can provide and whether it is worth using their services.

Context and constraints: Councilmembers discussed ownership timing: staff said the city will not have full control of the building until an April date referenced in staff notes and that any bidding and architectural work will take additional time. Several council members cautioned that reusing the Regions building does not by itself resolve other needs — notably the fire department's bay capacity — and that the council should plan projects as a coordinated sequence.

Quotes: Jackie, a staff member, told the council she had found an email indicating the county had already completed phase 2 environmental testing for the Sixth Street sub area and said she would obtain those records for council review. Harry Young, communications manager, asked staff and elected officials to maintain public outreach during the scoping process so residents understand possible changes.

Ending: Councilmembers said they want preliminary numbers within roughly a three-month window so they can compare a revenue-bond timetable and other financing options. Staff will return with OPN's high-level estimates and with clarification on the April control date for the Regions building before council considers committing to a bond or other financing route.","At a study session the Indianola City Council directed staff to ask retained architects to produce high-level cost estimates to put city administration and some municipal services into the city-owned Regions Bank building and to quantify elevator and temporary-space costs before deciding on permanent moves.","actionData","errors"]

Article not found

Council discusses revenue bond, GO bond and TIF as tools to fund facilities plan

Council prioritizes environmental testing, notes Friends of the Library purchase in Sixth Street sub area discussion

Council directs staff to ask architect for cost estimates to repurpose Regions Bank building for city administration