Supervisors hold TIF hearing

The Ida County Board of Supervisors held a public hearing Jan. 2 on the amended Tax Increment Finance (TIF) district regarding Ida Grove’s wind turbine project. A required consultation with schools and cities was held Dec. 19.

Supervisors voted unanimously to approve Resolution 18-04 to declare necessity and establish an urban renewal area amendment.

In the public hearing, supervisors heard from Battle Creek Mayor Lloyd Holmes.

“That bothers me to have that money to pay and we will have to sell bonds. Is the interest included in what your total cost is? That is what I am worried about,” said Holmes.

“That’s how it was presented to us by Jeff Heyl of Northland Securities,” said secondary road engineer Jeff Williams. “That’s what our thinking has been. The first year, you don’t get it; the second year, you get 5 percent of the maximum. As that money goes out, they will expect payback on that bond, so there will be interest on the bond.”

See the full story in the Jan. 10 edition of the Holstein Advance or subscribe online for instant access.