Housing incentives, refinancing on Fort Dodge council agenda
An effort to reduce how much the local government pays in interest on some general obligation bonds and incentives for building new homes are on Monday’s agenda for the Fort Dodge City Council.
The council will meet at 6 p.m. in the Municipal Building, 819 First Ave. S.
During that meeting, the elected officials will consider refinancing several general obligation bond issues. City Manager David Fierke said he hopes the refinancing can save about $500,000 over the remaining life of the bonds. He said the bonds are due to be paid off between seven and 13 years from now.
The council will also consider giving preliminary approval to a package of property tax incentives intended to spur the construction of new houses and apartments. The proposal, which has been discussed for weeks by city staffers and elected officials, is intended to encourage the creation of new housing to meet the demands of those who will be moving to Fort Dodge to take jobs at the industrial park called Iowa’s Crossroads of Global Innovation.