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Perry council approves urban renewal expansion, sets hearings for three development agreements including $10 million JBS proposal
Summary
Perry City Council voted to expand its urban renewal area and approved filing a $3.99 million RISE grant with a 20% local match; the council set Sept. 2 hearings on development agreements for ADR Axles, JBS Prepared Foods and M&R Properties, including a proposed $10 million TIF-backed package for JBS.
Perry — The Perry City Council voted unanimously to expand the city’s urban renewal area and approved staff to submit a RISE grant application to support infrastructure work in the industrial park, moves intended to enable Tax Increment Financing (TIF) incentives tied to incoming businesses.
Council members passed a resolution declaring the necessity to amend the urban renewal plan under Chapter 403 of the Code of Iowa and later approved a RISE grant submission seeking $3,990,000 with a proposed local match of $1,943,590 (about 20%). City staff said the TIF district will be used to repay bonds after financing and that grant proceeds would fund water, sanitary extensions, sidewalks and intersection improvements to serve new industrial tenants.
Why it matters: The changes add two parcels associated with planned industrial development to the…
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