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 $5,949.
Reimbursement from Original 1983 Mall TIF for development projects of $25,245.
Reimbursement from Playland Park TIF for administrative costs, maintenance costs, and expenditures related to the River's Edge Development Project estimated to total $230,767
Reimbursement from Market Place TIF for administrative costs estimated to be $3,458.
Reimbursement from Valley View North TIF for administrative costs of $133.
Reimbursement from 23rd Avenue TIF for administrative costs of $3,039.