Public hearings are set to take place this (Wednesday) evening in Atlantic, on several bond resolutions that amount nearly $2-million, and the proposed plans for construction of 2015 Street Improvements. The hearings are part of a regular meeting of the Atlantic City Council, which begins at 5:30-p.m.

The first hearing covers the street improvement plans & specifications. The Council passed a resolution calling for a hearing on the estimated $1.175-million project during their meeting on March 4th, as required by Iowa law. The second hearing, also required by Iowa Code, is with regard to the issuance (purchase) of bonds amounting to $1.45-million to pay the costs of street, water system, storm water management system, sanitary sewer system and sidewalk improvements, plus $100,000 for the purchase of a fire truck, for a total indebtedness of $1.55-million. Those bonds are being bundled, with the intent to save taxpayers $4,000.

The third public hearing is with regard to a bond purchase agreement in the amount of $100,000 for improvements to the City Hall Auditorium, while the final hearing pertains to the purchase of bonds amounting to $415,000, for an Urban Renewal Project in the Southeast Urban Renewal Area, that would benefit local developer Don Sonntag, by funding an economic development grant in connection with the 2015 Southern View Estates Project.

The Economic Development agreement between the City and  Sonntag stipulates financial incentives amounting to $360,000 will be granted in return for the creation of new jobs and affordable housing. The City will pay the funds in three increments, as sections of the project are completed. Sonntag agrees to enter into an Assessment Agreement that specifies an increasing valuation of about $1-million per year through Jan., 2018.

In other business, the Atlantic Council will act on the appointment of citizens to several boards and commissions, and the closing of Chestnut Street from 2nd north to the Depot on May 9th, for the purpose of an E-Recycling event scheduled to take place from 8-a.m. to 4-p.m. on that date.