(Atlantic, IA) – The City Council in Atlantic, during their regularly scheduled session Wednesday evening (Aug. 5th), passed a Resolution to set the date for a public on a proposed amendment to the Urban Renewal Plan, as it relates to the construction of a 13,920 square-foot building at 1501 SW 7th Street, for a new business, Mudslayer Manufacturing, which assembles parts for their facilities in other parts of Iowa, that are designed for use in drilling water wells.
The amendment, if approved, would allow the use of Tax Increment Financing (TIF) to recover the eligible costs of a street extension, stormwater improvements, sanitary sewer and water extensions for the project, estimated at $264, 150. Up to $300,000 would be borrowed from the General Fund to pay for the improvements, with repayment over a period of up to 15 years. The proposed interest rate is 4.5 percent. Up to $300,000 would be borrowed from the General Fund to pay for the improvements, with repayment over a period of up to 15 years. The proposed interest rate is 4.5 percent.
In his report to the Council, Atlantic Mayor Rob Clausen mentioned the City’s yard signs set-up on properties where the mowing ordinance is in violation, is producing results.
Clausen said the signs have an effective success rate of 82-percent.
And, Atlantic City Councilman Jeremy Butler said the efforts of property owners to beautify those properties will be recognized with a temporary sign for the yard, or windows of businesses and individual home owners.
The first two signs will be awarded soon. They will remain in-place for one-month before being rotated, or until other such properties are identified for recognition. Additional details are forthcoming.
