COUNCIL PROCEEDINGS
Special Meeting
August 17, 2015

The Oelwein City Council met in special session Monday, August 17, 2015. Mayor Sherrets called the meeting to order at 6:00 P.M.

Roll Call PRESENT: Sherrets, Cantrell, Weber, Ryan, Stickel
ABSENT: Milks
ALSO PRESENT: Letzring, Wedemeier, VanVeldhuizen

Resolution #4841 A motion was made by Weber, seconded by Cantrell to approve Resolution # 4841
First Ward Vacancy filing the vacancy in the office of first ward council person by appointment and the
publication of notice thereof.

Ayes: Cantrell, Weber, Ryan, Stickel
Nays: None
Motion Carried

5:05 p.m. Milks arrived.

TIF Presentation Letzring gave a presentation to council on information regarding Tax Increment Financing. Letzring explained how cities can borrow funds to fund infrastructure, use the new businesses property taxes to pay associated debt service, and then offer businesses their own property taxes as a rebate.

Resolution #4840 A motion was made by Weber, seconded by Cantrell to approve Resolution #4840
East Penn approving the application of East Penn Manufacturing Company for the purpose of receiving benefits under 2015 Iowa Code Section 15.326-15.336 the high quality jobs program and approving certain property tax exemptions for value added to real property by East Penn Manufacturing Company and to receive direct financial assistance from the Iowa Economic Development Authority

Ayes: Milks, Cantrell, Weber, Ryan, Stickel
Nays: None
Motion Carried

Adjourn A motion was made by Stickel, seconded by Milks to adjourn at 5:27 P.M. All voted aye.
Motion Carried

___________________________________
PEGGY SHERRETS, MAYOR

ATTEST:

______________________________________
JAMIE LETZRING, CITY ADMINISTRATOR

I, Jamie Letzring, City Administrator in and for the City of Oelwein, Iowa do hereby certify that the above and foregoing is a true accounting of the Council Proceedings held August 17, 2015 and copy of said proceedings was furnished to the Register August 20, 2015.

______________________________________
JAMIE LETZRING, CITY ADMINISTRATOR

Sorry, the comment form is closed at this time.

© 2010 City of Oelwein - Council Action Suffusion theme by Sayontan Sinha