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01. How can the city finance this project(s)?

Posted: February 6, 2019

The City Council has multiple options it is considering to finance the project(s) and most likely will require and choose to use a combination of these options.  They include:

  • Iowa DOT Contributions  ($1.5~ million verbally committed to date)
  • City debt service (property tax)
  • Tax Increment Financing (TIF)
  • Special Assessments
  • Escrow Account for turn lanes required of developers  ($416,819)

The Citizen Focus Group has reviewed options and proposed a varied combination of potential options.  (Meadow Road Consensus; Trails Consensus; Highway 169 Consensus)

The City Council has not taken action on any combination of these options, but has been in review with both legal and financial advisors regarding options.

Updated:  02/06/19

Category: Financing of Projects