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Fort Dodge council to consider TIF projects

More potential uses for tax increment finance revenue will be considered by the Fort Dodge City Council when it meets tonight.

The council will meet at 6 p.m. in the Municipal Building, 819 First Ave. S.

Tax increment financing occurs when increased property tax revenue from a designated area is set aside to be reinvested in that area.

The proposal before the council calls for using tax increment financing for these purposes:

• Water main improvements at Fifth Avenue South and 42nd Street (maximum of $400,000).

• Support to the Development Corporation of Greater Fort Dodge for a downtown building renovation program ($100,000 a year for five years).

• Closed circuit camera project ($94,000).

The council will consider an urban renewal plan amendment that would permit the use of tax increment financing for those projects.

The council will also consider another step toward rebuilding the intersection of Second Avenue North and 15th Street. The elected officials will consider a resolution of public necessity, which if approved, will allow the city government to begin acquiring property needed for the project.

The intersection job is scheduled to begin next year.

Starting at $4.94/week.

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