| | | | | | | | Council Communication
Department: Finance
Case/Project No.:
Submitted by: Finance Department/Danielle Bemis | Resolution 24-106
ITEM 9.B. | Council Action: 4/1/2024 |
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| | | | | | | | Description
Resolution authorizing the advance of $1,240,000 from the General Fund to satisfy the City of Council Bluffs' obligations for the Marketplace Urban Renewal Area. |
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| | | | | | | | Background/Discussion
City staff is requesting authorization to advance up to $1,240,000 from the general fund to satisfy the City of Council Bluffs' obligations related to the Marketplace Urban Renewal Area. The general fund will be reimbursed through the collection of tax increment financing (TIF) revenue.
The actual amount of the advance will be certified to the County Auditor on or before December 1, 2024 in accordance with Iowa Code Section 403.19. |
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| | | | | | | | Recommendation
Council to approve the resolution authorizing the advancement of funds, certificate of indebtedness, and direct the filing of certification to the County Auditor. |
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