Economic Development Committee to Consider Housing Development Rebates

Posted on 06 May 2013 by KWBG

BOONE, Iowa—The Boone City Council’s Economic Development will consider the next steps to establishing incentives for a possible residential development on the southeast side of Boone.  The Committee has been giving consideration to a variety of options for the past couple of months, but has yet to official hear from a developer about an agreement.  The Committee will first consider an amendment to the current Southeast Boone Urban Renewal District and will also propose a plan that will essentially allow for a property tax rebate on a percentage of the property taxes paid.  The Committee has discussed various limitations, including that actual incentive available the the time frame it may be available.  The development would be more than a dozen lots located along an extension of Crestwood Drive past Southview Court located on Cedar Pointe Golf Course. Once the Committee comes to an agreement, recommendations will be forwarded to the full Council to set public hearings on the proposal.  The recommendations are expected for consideration by the full Council Monday evening.  At this point, no developer has been identified for the specific area.  The incentives would not be available until a developer and the City Council have a development agreement.

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