The Adel City Council will be meeting on Monday for a public hearing on the Southbridge Urban Renewal Plan.

According to Adel Mayor Jim Peters, the purpose of the Urban Renewal Plan is to use available undeveloped land in the southern portion of the city to entice future businesses to open. He notes that the project allows a developer to use tax increment financing (TIF) funds to help create infrastructure to assist a future business owner that would like to start up in Adel. Peters reveals the Urban Renewal Plan TIF funds will be project specific.

“If the developer has a project, they’ll present that to the city. So right now, there is none, but there could be a variety of opportunities for the developer to come to the city (of Adel) and say ‘Hey, we’ve got the tax increment financing, here’s a business that’s coming and here’s how we can use the increment to be able to help them locate here, and that would be a benefit to the entire community.”

Peters shares the reason for the public hearing is to inform residents that the amendment is happening and that there are certain tax incentives that are available to business owners. The public hearing will be apart of the City Council meeting on Monday, taking place at 6pm at City Hall, 301 South 10th Street.