by Edward Lynn
Editor
The Eagle Grove City Council held a special meeting on Monday evening, approving two important items: renewing the Tax Increment Financing (TIF) indebtedness certification and purchasing two new trucks for the Public Works and Sewer Departments, to replace old, failing vehicles.
First the council considered Resolution 2024-131 to renew the TIF indebtedness certification, which helps fund the city’s ongoing development projects. City Administrator Bryce Davis explained that the TIF debt has decreased from $5 million to $4.5 million, with $2.5 million of that related to the Recreation Center, including a $376,000 loan to the center.
Davis broke down that some of the many projects to have been funded through TIF funds over the years include the Fareway grocery store, Gold-Eagle Cooperative, Ag Processing Inc. (AGP), the Grove Inn hotel, and Daybreak Foods. These kinds of projects, Davis emphasized, stimulate economic growth and benefit the community.
City Administrator Bryce Davis explained, “Most of this debt is paid off in yearly installments instead of all at once, and future tax revenues from the TIF districts will help cover the current shortfall” of roughly $84,000, which Davis pointed out will be covered by future tax revenues.
The council also approved buying two Ford F-250 XL trucks for $50,000 each for the Public Works and Sewer Departments. These trucks will replace older, unreliable vehicles, ensuring the departments can operate smoothly, especially during the winter months. One department has been using a Parks and Recreation truck to get by, and Davis noted, “We budgeted $55,000 each about a year and a half ago, and now we’re able to get two just in time for winter, which is great for us.” The vehicles are being purchased locally, from Lyle’s Ford.
Both resolutions were approved on unanimous votes of those present, which excluded councilman Denny Vandewater, who was absent.
