Categorized | Local News

Council Approves Incentive Plan

Posted on 05 March 2013 by KWBG

BOONE, Iowa—As expected the Boone City Council approved a recommendation from the Council’s Economic Development Committee to establish the Boone Downtown Incentive Fund and also to set out various requirements and program details.  The program calls for the use of $100,000 to be used for proposed projects.  The Council has agreed to provide 40% of the qualifying expenses in an amount not to exceed $30,000.  Like programs available in the past, the push is for facade work and is also available for new construction within the qualifying business district.  The Council action allows the Council’s Economic Development Committee to authorize proposed projects.  Again, like previous programs, dollars would not be expended until work is completed.  Currently, funding for the program will not be available until after the pending General Obligation Bond sale, possibly late April and early May.  Economic Development Committee members did point out there are a couple of other questions that have been raised which will be reviewed by City Attorney Jim Robbins.

Eligible area for incentive program is the dark area in the center

Eligible area for incentive program is the dark area in the center

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Boone Municipal, IA

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