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Council moves to repeal long-standing Altoona Urban Renewal (TIF) area covering Hy-Vee and Civic Pond
Summary
Finance Director Andy Lent told council the TIF district established about 20 years ago around Hy-Vee and the Civic Pond has reached its allowed period under state law; the council recorded readings and votes to repeal the ordinance (recorded roll-call results).
Altoona’s council on Sept. 15 advanced an ordinance to repeal the city's Urban Renewal (TIF) area that has encompassed properties near Hy-Vee and the Civic Pond.
Finance Director Andy Lent told the council the tax-increment financing district created roughly two decades ago for development purposes has reached the legal period permitted under state law and therefore must be repealed. Lent described the area being removed as broadly the Hy-Vee/Civic Pond block bounded roughly by 8th Street, 7th Street, 1st Ave S and 3rd Ave SE, including the lot where the current city hall sits.
The council recorded votes for the ordinance readings and to publish; each recorded roll call in the agenda shows the recorded result (4-0). The repeal will remove the district's TIF collection authority for the identified area under state timelines.
