BOONE, Iowa—The Boone City Council’s Economic Development Committee took the next step in the city’s Downtown Incentive Program last Friday, as the committee toured five possible projects. Visits were paid to Dan Niday at Boone Hardware, Holly Larson at Holly’s, Nate and Donna Coddington at H&R Block, Robert Burch at 823 Arden Street and Mike Pritchard at J&H Apartments. Following the tour and the chance to visit with each property owner about their plans, the committee met to discuss the projects and make a decision about who would be invited to apply for the program that offers a city subsidy or reimbursement of up to 40% of the project cost in an amount not to exceed $30,000 for facade renovation. The City Council has approved putting $100,000 of a pending bond sale into the program with the possibility of adding more if the program is well received.
The Economic Development Committee will be directly involved with monitoring projects. The first five candidates submitted letters of interest in the program. The next step is to see who is invited to formally apply to have their project be a part of the downtown incentive program. After that, projects can proceed. Projects can not begin before receiving Economic Development Committee approval. The Committee and city staff will monitor projects and will forward reimbursement recommendations to the Council.