Item Coversheet

Council Communication

Department: Finance
Case/Project No.:
Submitted by: Finance Department/Kristi Meckna 		Resolution 21-323
ITEM 6.H.		Council Action: 11/8/2021
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, 2021 for the collection of TIF funds in Fiscal Year 2023.

 

West Broadway-2200 W. Broadway, 2012C Bonds, Urban Renewal (URN) Costs

Original 1983 Mall-149 W. Broadway, 125 W. Broadway, 103 W. Broadway

Metro Crossing-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

Recommendation

Council to approve the resolution authorizing grant appropriation, certificate of indebtedness, and direct the filing of certification to the County Auditor.
ATTACHMENTS:
DescriptionTypeUpload Date
TIF Request SummaryOther10/28/2021
TIF Certification SheetsOther10/28/2021
Resolution 21-323Resolution11/3/2021