Scott County's principles for reviewing and commenting on proposals for the creation of Urban Renewal and Economic Development Areas for the use of Tax Increment Financing when given the opporutnity to consult by cities:
- Iowa Code 403 requires that prior to the approval of an Urban Renewal or Economic Development Plan that enables cities to make use of Tax Increment Financing, such cities must give affected tax entities, including Scott County, the opportunity to consult and comment on such plans.
- Scott County’s efforts in economic development have been to collaborate and support other local governments’ efforts to retain and attract businesses to provide quality jobs and strengthen the local economy.
- Scott County supports the use of tax increment financing used to reverse blight and declining property values, if it is to offset the extraordinary cost of such redevelopment in urban renewal areas.
- Scott County supports the judicious use of tax increment financing when it is used as an economic development incentive to encourage the retention and creation of primary economic sector jobs and businesses that improve the economy of the entire County.
- Scott County opposes the use of tax increment financing as an economic development incentive that give an unfair advantage to businesses that compete with local businesses or provides secondary market, retail, or service sector jobs.
- Scott County opposes the use of tax increment financing to fund public infrastructure when there are other more equitable sources of municipal financing available for such projects.
- Scott County adamantly opposes the use of tax increment financing to fund public and private infrastructure for residential development.
- Scott County encourages all uses of tax increment financing be for the shortest duration and the minimum amount determined to be necessary to make projects feasible.
Adopted by the Board of Supervisors - 9/21/2017