The Lake View City Council is moving forward with an amendment to their existing Urban Renewal Plan in an effort to spur additional economic growth within their community. According to Administrator, Scott Peterson, businesses in the identified district are eligible for Tax Increment Financing (TIF), which the city then uses to incentivize businesses to build or expand. He explains the scope of the proposed amendment.
Last November, Lake View annexed the 36 acres to the west of Evapco’s existing plant at the request of the industrial cooling and refrigeration manufacturer. The company has not officially released the details of their planned expansion, but Peterson expects more information to be available in the coming weeks. While the Evapco expansion spurred discussion on the Urban Renewal Plan amendment, Peterson says the council is hoping to encourage economic growth throughout the community.
The city council has taken a very hands-on approach to economic growth and quality-of-life improvements in town in recent years. From actively facilitating property transfers to potential business owners and providing low-interest revolving loans to installing additional walking paths and a splash pad in Speaker Park, Peterson says the city’s investments are paying dividends.
For more information on Lake View’s available economic development incentives, use the link included with this story on our website or contact Lake View City Hall at 712-657-2634.
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https://www.lakeviewlifestyle.com/city-information/economic-development/
