Item Coversheet

Council Communication

Department: Finance
Case/Project No.:
Submitted by: Finance Department/Danielle Bemis 		Resolution 23-309
ITEM 7.C.		Council Action: 11/13/2023
Description

Resolution authorizing for annual certification for Tax Increment Financing Indebtedness.
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.

 

The following projects require debt certification on or before December 1, 2023 for the collection of TIF funds in Fiscal Year 2025.

 

West Broadway-2200 W. Broadway, Urban Renewal (URN) Costs

Original 1983 Mall-125 W. Broadway, 103 W. Broadway, Urban Renewal (URN) Costs

Playland Park-Rivers Edge Development Project, 2010C Bonds, Rivers Edge Parking, Noddle Office Building, Rivers Edge Apartments, Parking Garage Maintenance Costs, Parking Garage CAM Agreement, Urban Renewal (URN) Costs

Marketplace-Legacy CB, Iowa Finance Authority Bonds

Bluffs Northway-Walmart

Franklin Ave-Kingsridge Dr.

Bluffs Vision-MAC Ventures

Valley View North-Urban Renewal (URN) Costs

New Horizon-Patrick Cir., Urban Renewal (URN) Costs
Recommendation

Council to approve the resolution authorizing grant appropriation, certificate of indebtedness, and direct the filing of certifications to the County Auditor.
ATTACHMENTS:
DescriptionTypeUpload Date
TIF Certification Request SummaryOther11/2/2023
TIF Certification SheetsOther11/3/2023
Resolution 23-309Resolution11/7/2023