Story County supervisors agreed July 7 to next steps intended to translate an earlier May 20 board decision into usable housing funding: staff will re-survey developers, meet with bond counsel about permitted uses of tax-increment financing (TIF) and prepare an amendment to the countyconomic development/urban renewal plan.

Leanne Harter, Story County planning and development director, said the board previously acted on May 20 to confine this yearast urban renewal projects to county projects and to consider funding housing through that process. She told supervisors the county already designates the whole county as an urban renewal area and that, to direct TIF toward housing, the board will need to amend the plan.

Regional partners briefed supervisors on TIF mechanics and examples. Brenda Dreyer of the AIMS Regional Economic Alliance explained how some subdivisions generate LMI set-aside dollars when a higher-end subdivision lacks an LMI requirement; those set-aside funds can be used later to support lower-income units in a separate project. Dreyer described examples in Nevada and other cities where counties and cities layered TIF and set-aside accounts to produce affordable units.

Staff recommended legal counsel review allowable TIF uses before a public outreach step. A supervisor said the county needs bond counsel to explain what is permitted under Iowaode chapter 403 and how to structure contributions — for example, direct grants to cities, grants to developers, or development agreements. Staff identified two law firms commonly engaged for TIF in Iowa: Dorsey & Whitney and Ehlers.

Staff also proposed re-soliciting feedback from developers and expanding outreach beyond Story County to regional builders. Greg Bicklop, of AIMS Alliance, and others said advertising that the county has funds to deploy would generate stronger developer responses than an information-only survey. Staff suggested a targeted email or press release after the board defines how it wants to channel funds. “The press release... would generate the carrot to get a better response that we didn't get the first time on the survey,” a staff member said.

As immediate follow-ups, staff committed to three tasks: 1) re-send a developer survey with regional outreach and program parameters; 2) consult bond counsel and report back on permitted uses and constraints for TIF-funded housing; and 3) prepare an amendment to the countyconomic development/urban renewal plan so the board can consider an application process. The board did not adopt a final TIF allocation or award at the July 7 session.