Background/Discussion
According to Iowa Code Section 403.19, a city shall certify to the County Auditor on or before December 1, the amount of loans, indebtedness, or bonds which quality for payment from a Tax Increment Financing (TIF) district for each established urban renewal area. This certification provides for the division of taxes collected attributable to specific projects.
Interfund Loan resolutions included:
Reimbursement from West Broadway TIF for administrative costs estimated to be $690.
Reimbursement from Playland Park TIF for administrative costs, maintenance costs, and expenditures related to the River's Edge Development Project estimated to total $579,132.
Reimbursement from Valley View North TIF for administrative costs of $650.
Reimbursement from New Horizon TIF for administrative costs of $3,417.