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Waukee council approves development agreement, TIF rebate and site plan for downtown 420–430 Sixth Street project
Summary
The council approved a development agreement with SJC Properties LLC for a two-story, mixed-use downtown project at 420–430 Sixth Street including a 10-year, 70% tax-increment rebate capped at $475,000 and a $30,000 design grant to be deducted from the rebate.
The Waukee City Council voted to approve a development agreement with SJC Properties LLC and related plat and site plan approvals for a proposed downtown project at 420 and 430 Sixth Street. Director Brown presented the project and staff recommended holding the public hearing and approving the agreement; the developer was not present.
Under the agreement, staff said the minimum required investment for the project is $3,000,000 and the property’s taxable valuation is expected to increase from approximately $151,000 to…
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