- the North Liberty City Council approved developers’ agreements for the two separate land deals. But because Judge Sosalla’s November ruling stated the city was enjoined from “buying concluding
- marvelous and super
- ” Judge Sosalla wrote. He also stated that the status of 380 DG and its compliance with Iowa Code chapter 403 are “sufficiently in issue to warrant a full hearing prior to the city completing its urban renewal project involved in this action.”
- the city also agreed to purchase an adjacent 40 acres of land and sell it for future development. The $12 million in bonds for the land purchase would have been repaid through Tax Increment Financing (TIF) revenues and sale of the adjacent lots. However
- these steps will reduce Iowa’s tax credit liability by more than $115 million.