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Altoona council authorizes $4.55M water loan, repeals TIF division and clears Summit Products expansion
Summary
At its Sept. 3 meeting the Altoona City Council unanimously approved up to $4,550,000 in State Revolving Fund financing for Water Treatment Plant No. 4 planning and design, repealed a 21-year tax-increment financing division tied to the Town Center district, and approved a site plan for Summit Products’ Phase 3 expansion; the consent agenda passed with multiple contracts and event permits.
The Altoona City Council on Sept. 3 unanimously approved a resolution authorizing up to $4,550,000 in State Revolving Fund financing for planning and design work on Water Treatment Plant No. 4, voted to repeal an ordinance that had allowed collection of Town Center tax-increment financing (TIF) revenue for 21 fiscal years, and approved a site plan for Summit Products’ Phase 3 expansion.
Finance Director Andy Lent told the council the public hearing held before the loan vote was required by state code and that the loan proceeds would be used for planning and design of the new water treatment facility, associated wells and mains. Lent said the loan will be repaid through water utility revenues. The council opened and closed the hearing with no public comment and then adopted the loan resolution by a unanimous roll-call vote recorded as 5-0.
The council also acted on an ordinance repeal…
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