HomeMy Public PortalAbout2024-019 Resolution Establishing a Low-to Moderate Income Program Ad Hoc CommitteeRESOLUTION 2024-019
Resolution Establishing a Low -to -Moderate
Income Program Ad Hoc Committee
WHEREAS, Iowa Code Chapter 403.22 prescribes the requirement for a low income assistance program
for all urban renewal areas in which financial aid in the provision of public improvements related to
housing and residential development is provided to a developer; and,
WHEREAS, the City of Riverdale, Iowa (hereinafter referred to as "City"), established the Welch Farms
Urban Renewal Area (hereinafter referred to as the "Plan") on October 10, 2017, which was recorded with
the Scott County Recorder as file number 2017-00031758; and,
WHEREAS, section 1.1. of the Plan, outlines the requirement for a Low -to -Moderate Income (hereinafter
referred to as "LMI") program; and,
WHEREAS, the City entered into an Agreement for Private Development by and between the City and
Woods Construction and Development, Inc. (hereinafter referred to as "Agreement"), which was recorded
with the Scott County Recorder as file number 2017-00031757, and which was legally transferred to
Woods S & K Capital, Inc., on September 27, 2022, via Resolution 2022-66, which was recorded with the
Scott County Recorder as file number 2022-00025696; and,
WHEREAS, article VI, section 6.6 of the Agreement outlines the requirement of an LMI Program to be
funded through the disbursement of Tax Increment Financing funds related to the Woods Estates
development; and,
WHEREAS, in November 2023, a public opinion survey about the future LMI program was disbursed to
all Riverdale businesses and residents, results were gathered and analyzed, and data was presented to
Council on January 23, 2024; and,
WHEREAS, Council has recommended the establishment of an LMI Program Ad Hoc Committee to
review data, research LMI program provisions, consult experts, and ultimately make recommendations to
Council on the composition of LMI program criteria; and,
WHEREAS, Council recommends the following LMI Program Ad Hoc Committee membership:
1. Stephanie Harvey, Council member - Chair
2. 2 Riverdale residents that would be qualified for the LMI program
3. 2 Riverdale residents that would not be qualified for the LMI program
4. 1 Riverdale business owner
5. Brook Hayes Upton, Finance Director, Neighborhood Housing Services - program expert
City of Riverdale, Iowa
110 Manor Drive, Riverdale, Iowa 52722 I (563) 355-2511 I www.riverdaleia.org
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WHEREAS, no funding source is required for this action.
NOW, THEREFORE BE IT RESOLVED by the City Council of the City of Riverdale, Iowa, that:
Section 1. The Low -to -Moderate Income Program Ad Hoc Committee is hereby established as outlined
above including goals and membership.
Section 2. The Low -to -Moderate Income Program Ad Hoc Committee is directed to meet regularly
until its goals are accomplished.
Passed, approved, and adopted this 27th day of February 2024.
APPROVEp:
Anthony Heddlesten, Mayor
ATTEST:
t6E,LCV\ kvt
Kelly Krell Cii1y Clerk/Treasurer
City of Riverdale, Iowa
110 Manor Drive, Riverdale, Iowa 52722 1 (563) 355-2511
www.riverdaleia.org