(Atlantic, Iowa) – The City Council in Atlantic will meet at 5:30-p.m. Wednesday (June 5th), in their chambers at City Hall. During their session, the Council will discuss with officials from Vision Atlantic, a proposal to utilize Tax Increment Financing (TIF) for the Camblin Hills Development and Child Development project. During their meeting on May 15th, the Council adopted a resolution to sell City-owned property purchased from the Comes Family Trust in 2022, to Vision Atlantic for the sum of One-dollar, in exchange for what City Administrator John Lund says is “A tremendous amount of capital investment into the area”: More than $4.1-million in infrastructure; $48.8-million in housing, and a $10.7-million child development center on the land. Part of the proposal includes a TIF rebate not to exceed $10.5-million over a period of 15-years. Lund says “This would be the largest project, and the largest multi-entity partnership ever seen in Atlantic’s history. The scale of capital investment is enormous.”

Following discussion on the TIF proposal, the Atlantic City Council will review, discuss and act on an Order to Approve a Low-to-moderate Income (LMI) Reduction Waiver Request to the Iowa Economic Development Authority (IEDA), on behalf of Vision Atlantic and the aforementioned development project. John Lund says Iowa Finance and IEDA Director Debi Durham has encouraged the City to apply for a waiver to grant the project “maximum flexibility to succeed,” however a local government must apply for the waiver as part of its Urban Renewal Project amendment and development agreement.

In other business, the Atlantic City Council will act on an Order to Approve a Professional Services Agreement with Snyder & Associates (at a cost of $25,000), for a Downtown Treescape Improvement Master Plan, which includes options, public engagement and Budget estimates. John Lund says Calendar Year 2025 is the year the City kicks-off the next round of a Street Improvement Program, with an inflation-adjusted total of over $3.23-million scheduled for the period, and which includes over $1-million in approved funding from the City’s State Transportation Improvement (TIP) program, to largely address West 22nd Street. The largest project on the schedule is an asphalt overlay in the downtown area, at a cost of more than $1.86-million. The project covers 2nd-through 6th Streets, from Poplar to Walnut, and Chestnut Street from the Depot south, to 7th Street. Lund says the project, while likely disruptive, will provide an opportunity for the City to address the problem of overgrown tree roots structures, which are lifting sidewalks and breaking through their grate coverings. He says it doesn’t mean the trees will go away, but the problem must be addressed.

The Council is expected to set June 19th at 5:30-p.m., as the date and time for a Public Hearing on an Amended FY2024 Budget (See below). The hearing takes place in the Council’s Chambers at City Hall. And, the Council is expected to act on setting July 3rd, 4th and 5th from Noon-until 11-p.m. each day, as the dates and times for the use of fireworks inside the City Limits.