Supervisors hold public hearing on urban renewal area and hear about assessment value changes

Board of Supervisors met Monday for their regular meeting with a full schedule on the docket. A public hearing was held to amend the Urban Renewal plan for the Wright County Agribusiness Urban Renewal area. This relates to industrial park near Eagle Grove discussed at several previous meetings. Within the hearing, the board voted to approve the urban renewal area, with a 40-acre parcel of land south of Prestage added. They also conducted the first reading of Ordinance #58 during the hearing. The ordinance would take any revenues from project and use the increment to pay off debt. The ordinance must be read two more times before being enacted. Finally, they approved a final resolution to borrow moneys for the project in the amount of $1.6 million from First Citizens Bank in the interim as grants are being sought. (The bidding process for this was discussed in previous stories.)

County Assessor Shari Plagge showed the board a video on property tax from the Iowa State Association of Counties and discussed the assessment process. She explained that her office will likely have to raise assessment values due to current rising sales trends in most parts of the county, including Eagle Grove, Goldfield and Clarion. Belmond will be less affected, Plagge said. Assessment notices get mailed out April 1st. Plagge noted that if this would affect tax rates, it would not be until the 2020-21 tax year.

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