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Keokuk council adopts amendment to Twin Rivers urban renewal plan
Summary
Council approved Amendment No. 8 to the Twin Rivers urban renewal plan, leaving the plan area unchanged but updating project lists (including Tamia Street), and authorizing an annual $25,000 transfer to the general fund for up to five years to cover administrative costs.
The Keokuk City Council on Sept. 4 adopted Amendment No. 8 to the city’s amended and restated Twin Rivers urban renewal plan, updating the list of potential projects without changing the plan boundary.
Staff told council the amendment consolidates prior changes and adds projects such as the Tamia Street reconstruction and sewer-separation work. The amendment lists potential costs for the Tamia Street project with a street component estimated at $4 million–$5 million and a sewer-separation component estimated at $2 million–$3 million. Staff said the plan provides flexibility to use tax increment financing (TIF) funds to repay bonds or cover portions of project costs as revenues allow.
The amendment also authorizes an annual transfer of up to $25,000 to the general fund for administrative costs (legal and staff time) for a period not to exceed five years. Staff said consultations were held with taxing entities, and representatives of the county and other taxing bodies were invited; council was told no substantive objections were raised.
With no public objections at the hearing, council moved, seconded and adopted the resolution to amend the Twin Rivers plan and to adopt Amendment No. 8.
