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Council approves development agreement for 48 townhomes with local TIF rebate
Summary
The Oskaloosa City Council approved a development agreement with Oskaloosa Multifamily LLC to build roughly 48 townhomes in the city’s urban renewal area, obligating at least $7.47 million in improvements and authorizing up to $3.12 million in tax-increment rebate payments over 30 semiannual installments.
The Oskaloosa City Council on March 16 voted to approve a development agreement with Oskaloosa Multifamily LLC to build approximately 48 townhomes in the Oskaloosa Urban Renewal Area.
The chair opened the public hearing and, seeing no public comment, closed it before the council moved and seconded the measure. The agreement obligates the developer to…
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