Indianola council adopts multiple urban renewal plans, approves development agreements and property transfer

Indianola's City Council on Dec. 2 approved a set of urban renewal actions and development agreements aimed at advancing several large private and mixed-use projects while preserving the city's ability to use tax-increment financing (TIF) for public improvements.

The council adopted Amendment No. 8 to the Hillcrest Downtown Unified Urban Renewal Plan and approved new urban renewal plans and related development agreements for Kentucky Ridge North 6th Street, Summercrest Hills, and other developments. The council also approved a development agreement with IDG3 LLC (replacing Invigorate Development Group LLC) and set a rental rate for use of the IWC wellness campus by a proposed fieldhouse; it approved a separate development agreement with Inception Group LLC. The council moved forward with a resolution to transfer certain county property as part of a longer-term library relocation strategy and approved a preliminary plat for Biggard Commerce Park.

Why it matters: the votes formalize the mechanisms Indianola will use to collect and direct incremental tax revenue generated by new development to repay infrastructure costs and to support public projects. The measures underpin several projects — including a proposed library site, a regional fieldhouse and recreation amenities, commercial pads, and street and utility work — that city staff and developers say are needed to support growth north of Hillcrest and along Highway 92.

Council and staff said the actions create authority and financing tools but do not automatically spend money. City attorney Nathan Overberg told the council the plans are a framework: "the fact that these additional projects are not in this initial plan is not a concern. It's not a limitation," and he added projects would still require separate identification, incurring debt and certification before any TIF is used.

Key items and debate

Hillcrest amendment 8: Staff presented Amendment No. 8 as housekeeping to bring the Hillcrest Downtown Unified Urban Renewal Plan into compliance with state code changes, tidy parcel legal descriptions and move certain areas in and out of existing TIF boundaries. Council approved the amendment…