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City manager proposes keeping part of downtown TIF revenue for operating needs, trimming Five Flags overhaul
Summary
City Manager Mike Van Milligan told the council April 13 he recommends claiming only 75% of downtown tax-increment financing (TIF) revenues beginning in FY2028 and using one-time TIF loan repayments in FY2027 to avoid larger operating cuts. The move would free recurring general-fund revenue but reduce funds available for Five Flags capital projects and downtown incentives.
City Manager Mike Van Milligan told the Dubuque City Council during a special budget meeting April 13 that the city must change how it uses downtown tax-increment financing revenues to address lost revenue from recent state property-tax reforms and other declining revenue streams.
Van Milligan recommended that, starting in fiscal 2028, the city claim 75% of the downtown TIF revenues and return the remaining 25% to the other taxing jurisdictions that overlap the district. He said the shift would produce roughly $1.2 million in recurring general-fund revenue for the city and would also increase operating revenue to the school district and county — an estimated $1.2 million and about $700,000 respectively.
"Property-tax reform…
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