Item Coversheet

Council Communication

Department: Finance
Case/Project No.:
Submitted by: Finance Department/Danielle Bemis 		Resolution 22-287
ITEM 6.G.		Council Action: 11/14/2022
Description

Resolution authorizing for annual certification for Tax Increment Financing Indebtedness.
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.

 

The following projects require debt certification on or before December 1, 2022 for the collection of TIF funds in Fiscal Year 2024.

 

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

Original 1983 Mall-149 W. Broadway, 125 W. Broadway, 103 W. Broadway, Urban Renewal (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

Valley View North-Urban Renewal (URN) Costs
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
TIF Certification Request SummaryOther11/3/2022
TIF Certification SheetsResolution11/4/2022
Resolution 22-287Resolution11/9/2022