Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance topic
No spam. Unsubscribe anytime.
Atkins council certifies TIF debts, approves urban renewal and annual financial reports
Summary
Council certified the city's 2025 TIF certification (proposed $1,164,284) that includes several internal loans and a rebate commitment, approved the FY2025 annual urban renewal report and the FY2025 annual financial report; roll-call votes were unanimous.
The Atkins City Council on Nov. 25 approved a set of annual finance items required by state law: the TIF certification for fiscal 2027, the FY2025 annual urban renewal report (Resolution 2025-118), and the FY2025 annual financial report (Resolution 2025-11-09) for filing with the state.
City Administrator Scott explained that the proposed certification is $1,164,284 and described the components he was adding to the certification this year: a $40,225 internal loan for Stone Ridge engineering/legal/administrative costs; a $315,000 internal loan for Stone Ridge capital expenses; and a $190,000 Stone Ridge rebate estimate for the next fiscal year. Scott also noted packet pages showing not-previously-certified debt that include recent projects such as the fire station and that staff provided detailed certification and request forms in the council packet.
On the urban renewal report Scott reported a beginning cash balance for the TIF fund of $262,971, an adjusted ending cash balance of $362,848 (citing a prior journal correction approved by council), total revenues of $534,942 and total outstanding TIF debt of $2,178,059. The council approved the certification, the urban renewal report (Resolution 2025-118) and the annual financial report (Resolution 2025-11-09) by roll-call votes, each carried unanimously.
