Iowa communities compete for reinvestment funds

Posted by on Mar 18, 2014 in News | 0 comments

A state program in Iowa is opening up $100M in future tax money for reinvestment projects. The Iowa Reinvestment District program grew out of legislation passed last year, and makes future state tax revenue available for qualified development projects that are intended to increase tourism, quality of life and investment throughout the state. That funding would come from new hotel/motel taxes and new sales-and-use taxes created from new developments. The Des Moines Register lists ten Iowa cities that have committed to project submittals hoping to capture some of that money for local reinvestment–including Waterloo for the the TechWorks Campus. The proposals will be analyzed in the next few months, using a scoring mechanism that is weighted heavily toward the uniqueness of a project and how much economic impact it will have on the state.

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