Decorah City Council approves first step in Hy-Vee development
Posted: Mon, Apr 15, 2019 7:19 PM
Decorah City Council members voted 6-0 Monday night to amend the existing SW Decorah Urban Renewal Area in order to allow tax incremental financing to be used on the project to rehab the former Quillin's building.
The developer of the project, Ridge Development Company, has asked for 15 years of property tax abatement on the increased property value of the building, a tax abatement which could total $425,000 plus up to $8,500 in city legal and administrative fees. Ridge Development is working with Hy-Vee to bring a new grocery store to the former Quillins location.
Just one person spoke at Monday night's public hearing--Eclips Salon & Day Spa owner and former Decorah City Council member Jody Niess--who said approving the amendment should be "kind of a no-brainer." With city council member Dan Bellrichard absent for Monday night's meeting, the remaining city council members then voted unanimously to approve the amendment.
The actual public hearing on the development plan--which includes the $425,000 in tax abatements--will be held May 6th.