CHAPTER 10

SELF-SUPPORTED MUNICIPAL
IMPROVEMENT DISTRICT

10.01    ESTABLISHMENT OF DISTRICT. Pursuant to Chapter 386 of the Code of Iowa, the Council has established a self-supported municipal improvement district in downtown Burlington under the conditions set out in this chapter.

10.02    NAME OF DISTRICT. The name of the district is Downtown Burlington Self-Supported Municipal Improvement District (DBSSMID).

10.03    PURPOSE. The purpose of the DBSSMID is to implement the Burlington Downtown Revitalization Plan adopted by the Council on March 6, 1995, which consists of, but is not limited to the following: to develop and market downtown properties and to promote downtown activities which increase the economic vitality of downtown business.

10.04    PROPERTY INCLUDED IN DISTRICT. The property to be included in the district is:

Beginning at the intersection of Valley Street and North Central Avenue and then north to the centerline of Columbia Street and east to 7^th Street, then south to Washington Street, then east to North 6^th Street then north approximately to the middle of the block then east to North 5^th then north approximately to the middle of the block between Court Street and Columbia Street then east to North 4^th Street then north to U.S. 534 then east to the centerline of Bluff Road then north to the north right-of-way of North Street extended then east to the river’s edge then south along the river’s edge to the southernmost portion of the south parking lot directly behind Memorial Auditorium then west to the railroad tracks then south along the western edge of said tracks to Maple Street then west to the alley between Main and South 3^rd Street then north to Elm Street then west to South 4^th Street then north to Division Street then west to the alley between South 4^th Street and South 5^th Street then north approximately to the middle of the block then west to South 5^th Street then northwesterly to South 6^th Street (encompassing properties facing Market Street on the block between South 5^th Street and South 6^th Street) then north to Market Street and west to South 7^th Street then north to approximately the middle of the block between Market Street and Valley Street then west to approximately the extension of the westernmost right-of-way of Ninth Street then north to Valley Street then west to the place of beginning.

The Council has determined that the property within the district has the relationship or its owners have the interest required under Iowa Code Section 386.3(1)(c) and includes all of the property within the area which has that relationship or the owners of which have that interest in the district.

10.05    RATE OF TAX. The rate of tax imposed upon the property within the district is three dollars ($3.00) per one thousand dollars ($1,000.00) of taxable valuation. The City shall place all DBSSMID taxes received into a special revenue fund designated specifically for DBSSMID, to be used according to provisions set out in Chapter 386 of the Code of Iowa.