Item Coversheet

Council Communication

Department: Finance
Case/Project No.: Resolution 18-
Submitted by: Kathy Knott 		Resolution 18-329Council Action: 11/26/2018
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, indebtness, or bonds which qualify 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 specifice projects..

 

The following projects require debt certification on or before Decemeber 1, 2018 for the collection of TIF funds in Fiscal Year 2020.

 

Mid-America Convention Center-Bass Pro

West Broadway-2200 W, Broadway, 2012C Bonds, 2016B Bonds, Echo       Acquisition & Demo, URN Consulting, EPA Contract

Original 1983 Mall-117 Pearl, 149 W. Broadway, 103 W. Broadway

Playland Park-River Park Apartments, 2010C Bonds

Marketplace-Legacy CB LLC, Iowa Finance Authority Bonds

Bluffs Northway-Walmart

Franklin-Kingsridge N

Bluffs Vision-MAC Ventures

 

Recommendation

Council approve the resolution authorizing grant appropriation, certificate of indebtedness, and direct the filing of Certification to the County Auditor.
ATTACHMENTS:
DescriptionTypeUpload Date
TIF Request SummaryResolution11/16/2018
TIF Certification SheetsResolution11/16/2018
Resolution 18-329Resolution11/16/2018