Atlantic City Council to Act on six resolutions this week
May 31st, 2011 by Ric Hanson
The Atlantic City Council has several Resolutions to act on during their meeting Wednesday evening, at City Hall. Included among them are those pertaining to approval of contracts and bonds for the Portland Cement Concrete and Hot Melt Asphalt paving projects, the Sunnyside Park Road Resurfacing and Parking improvement, Bull Creek Pathway Resurfacing, and City sidewalk repair, projects.
The Council will also hear a report from the City’s Finance Committee, with regard to a proposed Development Agreement with Boulders Inn and Suites. The committee will meet Tuesday, and present their recommendation to the Council on Wednesday.
City Administrator Doug Harris says while there currently is no signed agreement with Boulders, negotiations remained ongoing, and he’s hopeful an agreement can be reached in time for a public hearing. The Council will decide Wednesday, on whether to approve a resolution setting a date for the hearing on the 15th, but if an agreement is not reached by the time their meeting takes place, the resolution and action on the matter will have to be tabled.
Harris says the latest proposal presented by Boulders’ developers, is for a $125,000 up-front grant from the City, and a total of $41,000 in tax rebates. The developer would also realize another $42,208 in tax avoidance savings. The incentives package would end up costing the City $247,464, or about $5,824 less than what the City offered last May.
The biggest advantage, according to Harris, is that the tax rebates would be spread over nine-years, rather than four. The extended time frame, he says, also allows the City a better cash flow and the ability to fund other, needed, public improvements.
In other business, the Council, Wednesday, will act on authorizing Mayor Dave Jones to sign a five-year agreement between the City and The Iowa Department of Transportation, for maintenance and repair of primary roads. It would be in effect from July 1st, 2011 through June 30th, 2016.
The Atlantic City Council meeting begins at 5:30-p.m., Wednesday.