ANKENY CITY COUNCIL

Regular Agenda

December 17, 2018
5 : 30 PM
Gary Lorenz, Mayor
Mark Holm, Mayor Pro tem
Council Members: Bobbi Bentz, Jim McKenna, Kelly Whiting, Kerry Walter-Ashby
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ORIGINATING DEPARTMENT: COUNCIL GOAL:
Economic Development Ankeny as a Successful Business Center
ACTION REQUESTED:
Resolution
LEGAL:
No Review Required
SUBJECT:
High Quality Jobs Program Application for Kreg Enterprises, Inc.
Iowa Economic Development Authority.
EXECUTIVE SUMMARY:
Kreg Enterprises, Inc. is proposing to construct an approximately 250,000 square foot office, manufacturing, and warehouse facility on 25 acres in the Crosswinds Business Park. The proposed project includes associated site improvements as well as extension of public infrastructure. Kreg has committed to creating 20 new jobs as a result of this relocation and expansion and is applying for incentives through the Iowa Economic Development Authority's High Quality Jobs Program. The 20 new positions are addition to the approximately 230 jobs that will be relocated from Huxley as part of this project.  All 20 new jobs will qualify as high quality jobs and the project is eligible for State of Iowa income tax credits and sales and use tax refund on construction materials. A signoff letter has been provided by the Huxley City Council, which is required for a relocation and expansion project to receive IEDA and local incentives.
FISCAL IMPACT: No
IEDA will consider providing sales and use tax refund for this project at their December 21st board meeting.  IEDA requires a local match for projects creating tax base and receiving state assistance.  The terms of the development agreement satisfy this match.
CITY MANAGER'S RECOMMENDATIONS:
To approve resolution as presented.
PREVIOUS COUNCIL/COMMISSION/BOARD ACTION(S):
A public hearing on the development agreement was set on December 3, 2018.
PUBLIC OUTREACH EFFORTS:
A public hearing on the development agreement was held on December 17, 2018.
ACTION REQUESTED:

Action: Consider motion to adopt RESOLUTION of the City Council of the City of Ankeny, Iowa, approving the application of Kreg Enterprises, Inc., to the Iowa Economic Development Authority High Quality Jobs Program.
ADDITIONAL INFORMATION:
ATTACHMENTS:
Click to download
Resolution - Kreg HQJ Application