Closing Public Hearing on the Proposed Twenty-Eighth Amendment to the Metro Center Urban Renewal Plan and Approving Same
Roll Call Number Agenda Item Number 5-8 Date ........June 28,.2021. CLOSING PUBLIC HEARING ON THE PROPOSED TWENTY-EIGHTH AMENDMENT TO THE METRO CENTER URBAN RENEWAL PLAN AND APPROVING SAME WHEREAS, on March 20, 2000, by Roll Call Nos. 00-788 and 00-789, the City Council adopted the Urban Renewal Plan for the Mstro Center Urban Renewal Project, and such Plan has been amended twenty-seven times (the urban renewal plan as so amended is herein referred to as the "Plan"); and, WHEREAS, the Metro Center Urban Renewal Project Area encompasses an irregularly shaped area that includes the downtown core and the areas surrounding the downtown core; and, WHEREAS, on May 10, 2021 by Roll Call No. 21-0696, the City Council resolved that a public hearing on the proposed Twenty-Eighth Amendment to the Plan be held on June 14, 2021, at 5:00 p.m., in the Council Chambers, City Hall, 400 Robert D. Ray Drive; and WHEREAS, the purpose of the proposed Twenty-Eighth Amendment to the Plan, attached hereto as Exhibit "A", is to (a) approve the provision of financial assistance from tax increment revenues in the Metro Center Urban Renewal Area for redevelopment, renovation and/or improvement projects and employment, job creation/retention assistance including a forgivable loan to Accordia Life & Annuity Company (d/b/a Global Atlantic) as City match for the IEDA High Quality Jobs program; redevelopment of approximately 66-acres consisting of two areas of the Project Area: 1) approximately 60-acres at the Stadium District (former Dico property) located in the vicinity east of the Raccoon River and south of West Martin Luther King Jr.
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