By Sam Parsons
The Pella city council met last night and held public hearings related to their proposed Timberview Urban Renewal Plan. According to the staff report, the development is intended to help facilitate additional housing in the city of Pella and has an estimated total value of $16.1 million, projected to result in approximately $296,000 in annual property tax revenues. City administrator Mike Nardini referenced a housing assessment done by Marion County as one of the key pieces of evidence that this additional housing was needed.
The council unanimously approved the Urban Renewal Plan, a five-year TIF extension agreement to ensure that the developer recoups their investment into public infrastructure, and a development agreement with Pella Timberview, LLC for phase 1 of the project, which will include 36 lots (12 attached zero threshold/patio type homes and 24 detached standard market rate units).
The next regular council meeting for the city of Pella will be held on December 6.