DEWITT — A series of public hearings were held Monday at the DeWitt City Council meeting.
In a public hearing preceding approval of an amendment to the urban renewal plan, projects were added to the list of those eligible for tax increment financing. The projects added were the Brookline subdivision, an addition to the DeWitt Fitness Center, a trail extension, an amendment to the Busch-Necker residential agreement, the Maschio Gaspardo agreement, and the already-completed senior housing study.
Listing the projects does not ensure TIF funding, as each project requires a stand-alone agreement and public hearing for specific approval.
The urban renewal plan amendment for the DeWitt economic development district was later approved. The city has a debt limit of $17,149,287 with outstanding general obligation debt at $13,760,000. The current amendment’s proposed debt obligation is $4,114,500.
The second public hearing concerned the development agreement with Maschio Gaspardo, North America, Inc., an Italian manufacturer of agricultural equipment. The company is purchasing the former Remington Seed building, a 122,000 square feet structure at 122 Third Avenue East. A crew of 10 to 15 will be employed in the initial capacity of warehouse and shipping. As many as 100 workers may eventually be employed.
The agreement approves a maximum total TIF rebate of $125,000 over 10 years with two tiers for the rebate. Based on the number of employees, 50 percent of the increment or 100 percent of the increment will be given. The agreement was approved later in the meeting.
The final public hearing was for a proposed zoning provision of a portion of Lot 2 Westbrook Ridge subdivision from R-1 single family residential to R-3 multiple family dwelling district. Also included is rezoning part of Lot 2 Westbrook Ridge subdivision from R-2 moderate density dwelling district to residential to R-3 multiple family dwelling district with a residential planned development district overlay. The areas will be re-platted as lots 15-20 and 33-41 of Jacobsen Farms First Addition, and the purpose of the rezoning is to build multi-unit condominiums.