Council approves TIF support for 26-unit subdivision between Claire Beck Lane and Greenacres Drive

Muscatine City Council members voted unanimously April 10 to provide tax-increment-financing support for a proposed 26-unit subdivision on a 9.25-acre parcel between the south end of Claire Beck Lane and the north end of Greenacres Drive.

The developer, Todd Hackett, told the council the project concept would create 26 units — 16 side-by-side units and 10 single-family lots — and that the infrastructure cost makes city support necessary. Hackett said the developer plans to start grading in June and hoped the first homes would be ready for occupancy by mid-November. “...as long as we can get everything worked out with the city on the TIF, and we need the $400,000, you know, upfront and to make the whole deal work,” Hackett told the council.

City Administrator Matt Martinson described the proposed financing as a “modified” TIF rather than an upfront full rebate. “We would give $400,000 for the infrastructure upon completion of the roadway,” Martinson said, adding that the money would come from the Sewer Extension Fund. He outlined the proposed…