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Keokuk approves development agreement tied to state blight-reduction grant
Summary
Council approved a development agreement with ATTH Group tied to a state Community Catalyst blight‑reduction grant that would rebate up to 90% of incremental tax increases for up to five years, capped at $53,000, with staff noting use of TIF funds to cover rebates.
Keokuk City Council approved a resolution on April 3, 2025, authorizing a development agreement with ATTH Group Incorporated tied to a state Community Catalyst blight‑reduction grant.
Staff described the agreement as a five‑year rebate of 90% of the incremental increase in taxes attributable to the development, capped at $53,000. The rebate applies to the incremental property tax after all taxing entities’ shares are calculated; if the project does not generate the full $53,000 in incremental taxes within five years, the rebate is limited to what is generated. Staff said the city expects to use available TIF (tax increment financing) funds and other applicable revenues to accommodate the rebate without increasing the overall tax burden on other city services.
During the hearing staff said the project is one of several forthcoming Main Street redevelopment initiatives and that the city is awaiting confirmation of insurance documentation before executing the agreement. No written objections were reported during the public hearing. The council voted to approve the resolution authorizing execution of the development agreement.
What’s next: staff will confirm insurance documentation and finalize the agreement for execution; the agreement’s rebate schedule will be monitored over the five‑year term.
