Council Discusses TIF Funds

Sheldon, Iowa — The Sheldon City Council began discussion on the possibility of releasing Tax Increment Funds to the regular tax rolls at their meeting Wednesday. 

Council member Randy Fonkert who has not filed for re-election remarked that he would like to see TIF money released especially with other tax entities such as the public school and community college involved. City Manager Sean Hutchison pointed out that the City has a very rapid debt re-payment schedule, and this has resulted in them receiving a very favorable bond rating. He added that a small portion of TIF money could be released, but anything greater could affect the bond rating. Hutchison also said there is the possibility of keeping a certain TIF area in the Urban Renewal Plan and have the year-to-year option on whether or not this would be released to the regular tax rolls. The discussion will continue at upcoming council meetings.

The Council also heard the first reading of an ordinance to put into effect a series of Wastewater rate increases that will provide the necessary revenue to pay for the water treatment plan improvements. The average sewer rate bill for residential customers is now $22.26. Under the new rate proposal this would increase to $29.00 in January, 2018. Then it would go up to $33.35 in July, 2018, and $37.70 in January, 2019. The council passed this ordinance on to its second reading at the next regular meeting.

After the regular agenda, Councilmember Brad Hindt spoke out to remind residents of the proper use of outdoor fire pits.  Although the fire pits are approved for use as “recreational fires”, the burning of leaves within the city limits is a violation of the City Ordinance.  That ban includes the burning of leaves in fire pits.

 

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