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Fountain approves East Infill Urban Renewal Area and 50/50 sales-tax sharing agreements
Summary
Council unanimously approved four resolutions to modify the US Highway 85 URA, adopt an East Infill URA covering about 213 acres and 22 parcels, and authorize two 50/50 sales and use tax-sharing cooperation agreements to finance estimated transportation improvements.
The Fountain City Council on Nov. 18 approved four resolutions to amend an existing urban renewal area and establish a new East Infill Urban Renewal Area intended to address blight, attract private investment and fund necessary transportation and infrastructure improvements.
Kimberly Bailey, executive director of the Fountain Urban Renewal Authority (FURA), presented the East Infill plan to council during a public hearing. She said the proposed East Infill area covers roughly 213 acres across 22 parcels and that the consultant’s block analysis found the area meets nine of the 11 statutory conditions used to justify an urban renewal designation under state law. Bailey described a previously…
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