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Clive Council approves 10‑year TIF rebate for Fortress Bank redevelopment
Summary
The Clive City Council unanimously approved a development agreement with Fortress Bank that includes a 10‑year TIF rebate (recorded maximum reimbursable amount in meeting materials: $667,542) and developer-funded relocation of city signage and certain utility moves.
The Clive City Council on Dec. 11 approved a development agreement with Fortress Bank that staff said will use a 10‑year tax increment financing (TIF) rebate to support redevelopment of the site.
Amanda, a city staff member presenting the agreement, told the council that the package includes a 10‑year TIF rebate “up to $667,542” and that Fortress Bank will pay “100% of the costs of relocating and reconstructing a city public facility sign” and fund required water‑main relocations tied to the project’s construction schedule. Amanda said the agreement also includes a reimbursement element for a north–south water main relocation related to a planned DOT reconstruction of 111th Street and that contractors’ timing drove the structure of those reimbursements.
The council closed the public hearing after no public comment and voted to adopt the resolution approving the development agreement by a vote of 4–0.
Why it matters: The agreement provides targeted redevelopment support while shifting immediate relocation costs to the private developer, with the city reimbursing one relocation due to project timing. The council’s action moves the project from preliminary approvals and public hearing to finalized agreement execution.
What’s next: Staff will proceed with final execution of the agreement and the project team will coordinate sign reconstruction and utility relocations described in the contract.
