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Council adopts amendment No. 3 to Lincoln Way Industrial Rail and Air Park Urban Renewal Plan
Summary
Council adopted a resolution designating an area as an economic development area and approving amendment No. 3 to the Lincoln Way Industrial Rail & Air Park Urban Renewal Plan to support Project STACK transload facility.
The Clinton City Council adopted a resolution on Jan. 14 designating an area as an economic development area and approving Amendment No. 3 to the Lincoln Way Industrial Rail and Air Park Urban Renewal Plan. Council members said the amendment will support Project STACK’s planned purchase to create a transload facility at the rail park.
Council member Shemmers introduced the resolution and said the amendment will free property for Project STACK and follow prior urban-renewal steps taken for other nearby projects. In discussion, a council member noted the amendment is the final part of a series of actions to clear property and move forward with a purchase agreement tied to the project; the council also referenced plans for a scheduled step-down of tax increments over a five-year schedule (a 4-to-3-2-style stepdown sequence referenced in the record as a 427b arrangement).
Roll call was taken and the resolution was adopted by the council. Council indicated staff will proceed with the purchase agreement steps and coordinate any related next steps with development partners.
