HomeMy WebLinkAbout1998-02-02-Resolutions 98-08_TIF - Policy ContinuationRESOLUTION NO.98-08
CITY OF WAUKEE,IOWA
RESOLUTION ALLOWING THE USE TAX INCREMENT FINANCE
(TIF)DISTRICT'S AND TAX CREDIT'S TO PROMOTE AND
ENHANCE INDUSTRIAL DEVELOPMENT WITHIN THE CITY OF
WAUKEE.
WHEREAS,the long-term economic health of any Waukee is dependent on a vibrant business economy;
and
WHEREAS,it is often necessary to enhance the desirability for industrial development in area's zoned as
such;and
WHEREAS,the City already has as part of its City code,the ability to offer the creation of Tax Increment
Finance Districts and property tax abatement;and
WHEREAS,these two incentives cannot be used together,but the ability exists to use a hybrid of the two;
and.
WHEREAS,the failure of the City to offer such incentives,as used by other communities,could put
Waukee at a competitive disadvantage to attracting much needed jobs to the community which could be a
detriment to the long-term economic health of the City;and
WHEREAS,the development and retention of a strong industrial base within the City of Waukee will
invigorate our tax base and reduce the long-term tax burden on residential housing;
NOW THEREFORE BE IT RESOLVED,the Waukee City Council desires to continue its policy of
offering Industrial Tax Abatement,and Tax Increment Financing (on a case by case basis),and hereby
expresses its willingness to utilize a hybrid ofthe two which would use the tax abatement to pay off Bonds,
such an incentive to be used on a case by case basis also.
PASSED THIS 2ND DAY OF FEBRUARY,1998 ~;!J!
MAYOR DONALD L.B~.1RI:::-.--
ATTEST:
KURT A.RUECKEL -CITY CLERK