The Monmouth City Council has approved a Redevelopment Agreement with Dame Holdings, LLC, reports City Administrator Lew Steinbrecher:
“Dillan Vancil, he operates the Dame Fine Coffee drive-thru there on North Main. He has purchased the property across the street at 504 North Main and is in the process of building a self storage facility and then relocating his coffee drive-thru across the street at 504 North Main. The project did entail some TIF eligible reimbursement costs, such as the land acquisition and building demolition. It is a traditional tax increment financing project, that is that no general fund tax dollars will be used to make these reimbursement incentive payments, but rather it will be the result of the redevelopment. It will increase the assessed value of that property and the property taxes in the future will incrementally increase as a result of this development. It is those incremental property tax dollars that the property owner pays that will be used as the source of revenue to provide these reimbursement incentive payments.”
Additionally, a group of Monmouth College students asked City Council in considering the placement of a stop sign at the crosswalk at 8th Street and East Broadway. The request was referred to Public Safety and the Public Works Departments to review and report back at the next Monmouth City Council meeting for a vote.
