City approves development agreement, authorizes up-to-$560,000 TIF rebate for High Point East

The Decorah City Council voted to approve a development agreement with High Point East LLC and to adopt related urban renewal measures that authorize tax-increment financing (TIF) rebates to cover eligible public-infrastructure costs up to the not-to-exceed amount discussed by council.

Council discussion centered on the amount of city participation — described in the packet as a rebate not to exceed $560,000 to cover costs such as water, sewer, stormwater, streets and lighting — and the precedent the rebate might set for future greenfield development. Developer Mike Kelly told the council the subdivision has been contemplated for five to six years and would include 16 total lots in two phases, with the first phase providing eight lots and a second phase providing the remaining eight; he said two of the lots could be developed as multifamily units.

The c…