The City has established the Burlington Consolidated Urban Renewal Area pursuant to Chapter 403 of the Code of Iowa and has adopted a tax increment ordinance for the Urban Renewal Area pursuant to Section 403.19 of the Code of Iowa.
Chapter 15A of the Code of Iowa declares that economic development is a public purpose for which a City may provide grants, loans, tax incentives, guarantees and other financial assistance to or for the benefit of private persons. The City Council must determine that a public purpose will reasonable be accomplished by the spending or use of those funds.
All payments by the City under the Development Agreements shall be subject to annual appropriation by the City Council.
Current Development Agreements