A couple of public hearings will take place during the City Council meeting in Atlantic, Wednesday evening. The meeting begins at 5:30-p.m. The first hearing is with regard to the Plans, Specifications and Form of Contract for the Connector Trail and Pedestrian Bridge Project. The hearing, as required by State Law, allows public input on the project for which the City has agreed to contribute $50,000 from the Local Option Sales Tax (or, LOST) Progress Fund. City Administrator John Lund has indicated the fund has grown significantly over the past year, and uses for the fund are limited. And, since the trails system in Atlantic serve as a potential launch pad for a number of economic development opportunities, the LOST fund would be an appropriate use of the money, according to Lund.

The second public hearing is with regard to the Southeast Urban Renewal Plan Amendment, as it pertains to the Ash Street Housing Development project being proposed by Boose Building Construction. The estimated value created by the development, according to Lund, is Tax Increment Finacing (TIF) amounting to slightly more than $1.02-million. Boose has requested TIF from the City to support the project, which the City’s Personnel and Finance Committee has thoroughly reviewed and recommended for passage, by the Council. The site plan was approved by the Council during their meeting on April 15th.

Following both hearings, the Council will act on Resolutions approving both matters, along with a review of the bids for the Connector Trail Project and awarding of a contract for that project. They will also act on a Resolution authorizing an Internal Advance of Funds for the Urban Renewal Project, the TIF agreement for which amounts to $80,000. Lund says setting up an internal loan simplifies the process for all parties involved, and will be made out of the General Fund. It will be repaid through revenue from the TIF district over the agreed upon terms outlined in the development agreement.