Council approves purchase of house for expansion
The Fort Dodge City Council approved the use of tax increment financing money to buy and demolish a house on South 16th Street.
Councilman Dean Hill was absent from the otherwise unanimous vote to purchase 512 S. 16th St.
Tax increment financing occurs when increased property tax revenue from a designated area is set aside to be reinvested in that area.
The city has been buying land near the intersection of Fifth Avenue South and 16th Street since 2017. Buildings acquired by the city have been knocked down as part of an effort to clear the area for future redevelopment. Three houses and the buildings of the former Walt’s Auto have been demolished.