Lee County will provide money for a proposed sports complex in Fort Madison. The decision comes after the Board of Supervisors spent weeks rejecting requests for funding.
The Vision Iowa Board has said that Fort Madison’s request for more than $800,000 will not be considered without a $25,000 contribution from the county. The program requires city, county, and public support for a project.
It’s unclear whether Lee County’s support for a proposed sports complex in Fort Madison will lead to any state funding. The project calls for the construction of three football/soccer fields and three softball/baseball diamonds.
The Vision Iowa Board says the county must provide at least $25,000 if the board is to act on Fort Madison’s request for more than $870,000.
The county has created a special community development fund to try to raise the money. $1,500 has already been pledged at this point.
A commonly-used incentive program for downtown development is advancing in Fort Madison.
The city council has approved the second reading of an ordinance that would create a new tax increment financing district.
A portion of the property taxes collected on buildings within a TIF district goes to infrastructure projects. A baseline property value will be developed to determine the amount available for new sidewalks or streets.