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Bettendorf creating two new TIF districts

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By David Heitz | Saturday, May 10, 2008 1:00 AM CDT | () comments

The city of Bettendorf is in the early stages of developing two new tax increment financing, or TIF, districts.

The districts would provide incentives for the developer of the former Joevan site at Interstate 74 and Middle Road and help finance a new location on State Street for the Animal Emergency Center.

In a TIF district, excess property tax created by a development’s increased value can be rebated for development costs. The City Council voted this week to set an “opportunity to consult” for the new districts. The move gives other taxing bodies, such as school districts and the county, a chance to respond to the proposed TIFs.

“They have a vested interest in this, and we want to let them respond to what we’re doing,” said Steve Van Dyke, the city’s economic development director. He does not remember a time when the county or one of the school districts has opposed a TIF.

The Animal Emergency Center, 1510 State St., is interested in building a larger location on State Street between 28th and 28½ streets, Van Dyke said. The center already has acquired the property, said Dr. John Weigandt, vice president of the board of directors. “We’re looking forward to having a facility that will better suit our needs.”

Weigandt said the current building is leased and a bit cramped. What’s more, it’s in the path of the proposed, new Interstate 74 bridge span. “It has never been absolutely ideal, so we’re taking out a clean sheet of paper and coming up with a facility that is more workable for the staff and has a little nicer lounge and kitchen for them since they’re here all night.”

The new center will be about 6,000 square feet, he said. The board has been in discussions with architects. He said they have been talking to the city about their plans for the past two years.

Fairfield, Iowa-based developer Curtis McDonald is in the process of razing buildings on the 12.5-acre former Joevan site. He plans to build an upscale retail center there called Shops at Duck Creek.

Van Dyke said McDonald is asking for about $2.47 million in rebated property taxes over the 11-year life of the TIF. The City Council will have to approve that request in the form of a development agreement. A vote is expected in the next two months.

Meanwhile, Scott Walker, project manager for McDonald, said an announcement will be made soon on an anchor tenant for the development. “The anchor is going to be great,” he said. “Everyone will like it.”

David Heitz can be contacted at (563) 383-2202 or dheitz@qctimes.com.