Item Coversheet

Council Communication

Department: Finance
Case/Project No.:
Submitted by: Finance Department/Kristi Meckna 		Resolutions 21-320, 21-321 and 21-322
ITEM 6.G.		Council Action: 11/8/2021
Description

Resolutions 21-320, 21-321 and 21-322 authorizing Interfund Loan approval for FY23 TIF Certifications
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 First Ave projects estimated to be $12,518

Reimbursement from Old Airport (Metro Crossing) TIF for administrative costs of $5,849 

Reimbursement from Playland Park TIF for administrative costs, maintenance costs, and expenditures in the River's Edge Development Project estimated to total $418,271.

 

Recommendation

Council approve the above interfund loans for establishment of reimbursement through FY23 TIF certifications.
ATTACHMENTS:
DescriptionTypeUpload Date
Interfund Invoice ListOther10/28/2021
Resolution 21-320Resolution11/3/2021
Resolution 21-321Resolution11/3/2021
Resolution 21-322Resolution11/3/2021