Spencer, IA (KICD)–The Spencer City Council met last evening in regular session.
There was no debate on any of the agenda items. Public hearings for a pair of Shine Brothers projects were scheduled for the next council session. Shine Brothers is looking to construct a research and development center and a new processing center that would create 20 jobs. The development agreements would provide Shine Brothers with up to $1.155 million in annual appropriation tax increment payments.
A public hearing and adoption of an amendment to the city’s Residential Urban Revitalization Plan was held. The amendment for the most part allows for a 10 year tax abatement for any new multi-family facility of 4 or more separate units as well as any conversion of existing buildings to a multi-family facility of 8 of more separate living units.
City Planning Director Kirby Schmidt shared some impressive numbers on the new construction front.
The council also approved the city’s share of funding for the Communications Center Relocation Project. The total budget for the project is $660,000 with the city’s asking at $150,000. The City has earmarked $200,000 for this project.