Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
Council directs staff to pursue TIF-funded Main Street Iowa program, will amend urban renewal plan
Summary
Staff proposed using urban renewal (TIF) funds to support a Main Street Iowa program; council directed staff to contact bond counsel, prepare an amended urban renewal plan and set a public hearing. Staff said the change should not affect property tax rates.
City staff proposed using urban-renewal (TIF) funds to finance a local Main Street Iowa program and asked council for direction to proceed. The proposal would require amending the city's urban renewal plan and holding a public hearing.
"It will be, using our urban renewal funds because Anderson Creek has been going so well...it won't affect any rates and property taxes," staff told the council, recommending that staff contact bond counsel to prepare the amendment and schedule a public hearing. Council members gave direction to proceed and asked staff to return with an amended plan and a public-hearing schedule.
Staff explained urban renewal repayments to date have freed capacity to consider new community-wide programs; council asked that bond counsel be consulted and public notice requirements be followed before any amendment is adopted.
