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Winterset City Council approves urban renewal amendment to fund municipal fieldhouse and police building
Summary
The Winterset City Council on March 2 approved an amendment to the Winterset Urban Renewal Area to allow tax-increment financing for a municipal fieldhouse and a police department building, committed $16 million of TIF toward the project and set an April 6 hearing on a proposed up-to-$20 million general-obligation loan.
The Winterset City Council on March 2 approved Resolution No. 2026-10 to amend the Winterset Urban Renewal Area plan, authorizing the use of Tax Increment Financing to help pay for a proposed municipal fieldhouse and a new police department building.
City Administrator Andrew J. Barden told the council the amendment follows prior URA amendments and would “grant the authority to utilize Tax Increment Funds under Chapter 403 of the Iowa Code” to support the project. The council voted unanimously on the resolution after brief discussion.
The amendment commits $16 million in TIF revenue toward the project and charges the fundraising committee with producing the remaining $4 million or reducing the project scope, according to council remarks during the vote. A resident at 54 E. Washington spoke during the public hearing to object to the amendment and warned that rising project costs and inflation could increase property-tax burdens.
The council also approved Resolution No. 2026-11, setting an April 6 public hearing to consider entering a general-obligation urban renewal loan agreement in a principal amount not to exceed $20,000,000 to pay project costs. Resolution language includes an official estimate that a $20 million loan could raise annual property taxes by about $250.42 on a homeowner with a $100,000 valuation if the loan amount were imposed and not otherwise offset by other revenue.
Resolution No. 2026-11 also contains a declaration of official intent under Section 1.150-2 of the Internal Revenue Service regulations that the project is reasonably estimated to cost approximately $20,000,000 and that the city expects to reimburse expenditures from bond proceeds when issued.
Why it matters: the amendment clears a legal and planning hurdle that allows the city to use tax-increment financing for municipal facilities. While the council voted unanimously, at least one resident raised concerns that the increased project cost and inflation may translate into higher local tax bills.
Next steps: the council will hold the public hearing on the loan agreement and institutional proceedings on April 6, 2026, at 7:00 p.m.; the city also scheduled a separate public hearing on the proposed FY2026-27 property-tax levy for April 6 at 6:00 p.m. before taking any final debt action.
