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Altoona council amends urban renewal plan, commits $1.52M to stormwater, approves PILOT amendment and site purchase
Summary
The Altoona City Council approved an amendment to its Urban Renewal Plan to enable TIF funding, agreed to repay Prairie Crossing Investment $1,515,968.68 for stormwater work, approved a PILOT amendment with Siculus (META) estimated at about $810,000 annually, and authorized a purchase agreement for an 8.33-acre water treatment plant site (not to exceed $550,000).
The Altoona City Council on Nov. 18 approved an amendment to the city’s Urban Renewal Plan and a series of linked development and utility measures intended to support local infrastructure and commercial projects.
Finance Director Andy Lent opened the public hearing on the Urban Renewal Plan amendment, saying, "This public hearing is to receive public comment on the amendment of the city’s urban renewal plan in order to allow for TIF revenue to be collected and used for projects." No members of the public spoke, and the council approved the amendment by roll call vote among members present.
The council also voted to remove certain parcels from the TIF district in the NE Industrial Park after Finance Director Lent said the…
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