Item Coversheet

Council Communication

Department: Finance
Case/Project No.:
Submitted by: Finance Department/Danielle Bemis 		Resolutions 22-283, 22-284, 22-285 and 22-286
ITEM 6.F.		Council Action: 11/14/2022
Description

Resolutions 22-283, 22-284, 22-285 and 22-286 authorizing Interfund Loan approval for FY24 TIF Certifications.
Background/Discussion

Background

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 and administrative costs estimated to be $111,971.

Reimbursement from Original 1983 Mall TIF for development projects of $71,517.

Reimbursement from Playland Park TIF for administrative costs, maintenance costs, and expenditures related to the River's Edge Development Project estimated to total $871,396.

Reimbursement from Valley View North TIF for administrative costs of $2,963.
Recommendation

Council to approve the resolution authorizing grant appropriation, certificate of indebtedness, and direct the filing of certifications to the County Auditor.
ATTACHMENTS:
DescriptionTypeUpload Date
Interfund Invoice ListOther11/3/2022
Resolution 22-283Resolution11/9/2022
Resolution 22-284Resolution11/9/2022
Resolution 22-285Resolution11/9/2022
Resolution 22-286Resolution11/9/2022