Latest news with #TIF
Scoop
6 days ago
- Business
- Scoop
Ohakune Water Plant Highlights Need For Affordable Water Solutions
Touring the new Ohakune Water Treatment Plant (WTP) with other elected members Mayor Kirton reflected on its $10.4 million cost and Council's impending decision on how to provide future water services under the Government's Local Water Done Well (LWDW) reforms. LWDW requires all councils to decide how they will continue to deliver safe, reliable water services sustainably into the future - either alone or in partnership with other councils. Mayor Kirton said the new plant was funded in part through the Government's Tourism Infrastructure Fund (TIF) which was created to help smaller councils like Ruapehu manage the pressures of increasing visitor numbers. 'Funding support through the TIF was critical in getting this much needed project underway' he said. 'It helped address the gap left by our small ratepayer base and supported our efforts to ensure sustainable visitor growth. Unfortunately, the TIF and similar funding mechanisms are no longer available, making future upgrades much harder to afford.' He said the rising cost of delivering water infrastructure is a key issue as Council considers who to partner with to deliver future water services. Advertisement - scroll to continue reading "Construction of the plant was impacted by the COVID19 shutdowns and the massive infrastructure inflation that followed that saw water systems increase by over 28% and the final build cost increase significantly. 'We're now being asked to do more with less. The Government is encouraging smaller, rural councils like ours to work together to achieve affordability and long-term sustainability of water delivery. The most cost-effective option on the table is a five-council Water Services Council-Controlled Organisation with Palmerston North, Horowhenua, Rangitīkei, and hopefully Whanganui. We're currently asking our communities what they think about this option.' Mayor Kirton urged people to take a moment to complete the short survey on Council's website. 'This is about ensuring safe, affordable water services for the future.
Yahoo
05-06-2025
- Business
- Yahoo
Effingham Police Chief Jason McFarland named Employee of the Quarter
City Administrator Steve Miller presented Police Chief Jason McFarland with the Employee of the Quarter award during a recent Effingham city council meeting. Nominated by Deputy Chief Kurt Davis, McFarland is a fourth generation law enforcement officer, and he has over 20 years of service working with the Effingham Police Department. McFarland's initiatives as a law enforcement officer include developing a fentanyl response plan, obtaining officer safety equipment, recruitment and retention for implementing training for dispatchers with post traumatic stress disorder and partnering with addiction experts to create a model for narcotics-related calls. 'Chief McFarland exemplifies the highest standards of leadership, dedication and service. His forward thinking initiatives, commitment to officers and community wellness and proactive approach to modern policing have made a lasting impact on both the department and the broader Effingham community,' said Miller. 'His tireless work and unwavering commitment to excellence make him a truly deserving recipient of the Employee of the Quarter award.' Everything McFarland has done for the department has been outstanding, especially some of the programs he's put in place, said Miller. 'Thank you very, very much. Thanks for the council, and thanks for the committee that authorized this,' said McFarland. 'I sat on that committee, and we always joke very seriously when we have our meetings that we're grateful to have so many qualified employees to choose from with these awards. So it reflects well on the city as a whole, so thank you.' In other business, Wright at Home owner John Wright wants to relocate his business to the two city lots between S. Willow Street and S. 1st Street. The appraised value of each lot is $190,000, and Wright at Home wants to build a 9,750 square foot facility on them. 'If we get approval and get the purchase, a local builder is actually giving us final numbers right now. We would start probably right away,' said Wright. 'I think they were telling me it takes about three-and-a-half to four months to get a building, a steel structure. They told me they can get right on it.' Wright hopes to have the project completed by this time next year. 'I think that'd be a nice improvement to that corner and welcoming to that area,' said Mayor Mike Schutzbach. 'We've been very picky as to what presentation we wanted as you enter within our community. I think that would be perfect.' 'We've been waiting a long time to get the right look,' said City Commissioner Hank Stephens. 'We really got the right business.' If everything goes smoothly, the item will be on the next meeting's agenda. Meanwhile, Economic Development Director Todd Hull informed the council that Home City Ice's owner, Fritz Krampe, wants to make improvements to both the inside and the outside of the building by utilizing the TIF program. The outside improvements would total $228,460, but only $84,867 would qualify under the program. Therefore, the city would contribute $21,216.75, or 25 percent. 'I think that would be a very good improvement to that area. He's cleaned up that front building,' said Hull. 'He's already made a lot of improvements.' The Office Pub also wants to make improvements while utilizing the TIF program. The pub wants to do masonry work, reinforce a wall, paint and more. The total cost is $14,100, so the city would contribute $3,525 towards the project. The item will be on the next meeting's agenda. Public Works Director Jeremy Heuerman brought a proposal to the council from Milano & Grunloh Engineers to redesign and add another 200 parking spaces to the Thelma Keller Convention Center. Preliminary engineering would cost $40,000, and construction engineering would cost $30,000. This money would come from the hotel-motel fund. 'Currently, the convention center does not have enough parking to fulfill the obligation of our zoning or planning ordinance, and this would help move it in that direction,' said Schutzbach. Heuerman informed the council of a bid for sanitary sewer improvements on Mt. Vernon Street and Jaycee Avenue in the amount of $579,750 from A&R Mechanical Services. At first, they received no bids, so Heuerman reached out to multiple contractors for quotes. He received one from A&R Mechanical Services and one from B&T Drainage; A&R was the lower of the two. 'This was a little bit over our budgeted allowance out of the sewer fund, but we do have other projects that will not be happening this year,' said Heuerman. 'So there are funds in the sewer fund to authorize this.' Lastly, Schutzbach appointed Scott Ealy to the Tourism Advisory Board with a three-year term expiring May 1, 2028. The next Effingham City Council meeting is scheduled for June 17 at 5 p.m. in the council chambers.
Yahoo
03-06-2025
- Business
- Yahoo
Foraxi Introduces the World's First Trading Fund Insurance Plan to Empower Global Forex Traders
DUBAI, UAE, June 3, 2025 /PRNewswire/ -- Foraxi, a leading global Forex trading platform, has announced the launch of the world's first Trading Fund Insurance Plan, marking a significant milestone in the financial trading industry. This innovative plan aims to provide traders with unprecedented protection, allowing them to engage in the Forex market with enhanced confidence and financial security. The Trading Fund Insurance Plan is designed to mitigate trading risks by offering a unique safety net. Under this plan, traders who open a TIF Account with a minimum deposit of $1,000 and complete 25 lots on XAUUSD will receive their initial deposit refunded if they incur a loss after completing the required trading volume. The refund is fully withdrawable, with no hidden conditions attached. "Foraxi's Trading Fund Insurance Plan underscores our commitment to providing traders with a reliable and transparent platform," said a Foraxi spokesperson. "We understand the challenges traders face in the global markets, and this plan is designed to empower them with a secure environment to trade confidently." Key features of the Trading Fund Insurance Plan include: Flexible Profit Withdrawals — Traders can withdraw profits at any time, without restrictions. No Capital Lock-In — Users maintain full control over their funds, with real-time monitoring and transparency. Scalable Lot Requirements — Options include 25 lots for $1,000 or 250 lots for $10,000, offering flexibility for traders of all levels. No Hidden Terms or Conditions — The plan is fully transparent and trader-friendly. The launch of this plan represents Foraxi's dedication to supporting both novice and experienced traders in navigating the complexities of the Forex market. The platform's intuitive design and innovative features position it as a trusted partner for traders worldwide. For more information about the Trading Fund Insurance Plan and how to get started, users can visit About Foraxi Foraxi is a global Forex trading platform committed to delivering a transparent, secure, and user-friendly experience. The company offers a range of innovative features, including instant deposits and withdrawals, competitive IB commissions, and advanced trading solutions to help traders succeed in today's dynamic markets. ContactGOURAV BHARDWAJForaxi markets Ltdinfo@ Logo: View original content to download multimedia: SOURCE Foraxi Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
28-05-2025
- Business
- Yahoo
Amendment passes for South Sioux City redevelopment project
SOUTH SIOUX CITY, Neb. (KCAU) — The South Sioux City City Council voted to approve a second amendment to a redevelopment project. Council members unanimously voted yes on the amendment to allow the Hovey Construction to use TIF money on phase 3 of the project. The amendment indicates that TIF bonds or notes will not to exceed $3.049 million for the project. The total estimated costs for phase 1 and 2 is more than $2.8 million each, while phase 3 is estimated to cost more than $7.5 million. City officials said the amendment will also expand the project from its original 21-lot addition near the Siouxland Freedom Park. Story continues below Top Story: 2025 graduation ceremonies for Sioux City Community School District Lights & Sirens: 'The First Musketeer': Sioux City Musketeers founder Gary Lipshutz passes away Sports: Dell Rapids claims SDHSBA Class B title with 5-4 win over Dakota Valley in eight innings Weather: Get the latest weather forecast here 'We made a few changes to it to expand it a little bit, and so we met with Hovey, we met with a committee, and we made the changes we need to make. So it's going to be a little bigger, better basically not a whole lot of changes, but just made it, so we have more options and more flexibility,' said Mayor Rod Koch. Council members also approved a grant application for Siouxland Freedom Park's Rock Shelter Project along with agreeing to pay for half a sign for Freedom Park. The parks' board agreed to pay the other half of the sign, up to $3,250. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
21-05-2025
- Business
- Yahoo
Council approves TIF phasing plan
A phasing plan for the proposed tax increment finance entertainment district in Norman will move forward — but with a caveat. That caveat is that the TIF is either approved following a case now before the Oklahoma Supreme Court, or barring that, if it passes a proposed vote by Norman residents. The matter was for the 'consideration of adoption, rejection, amendment, and/or postponement of the phasing plan required by Rock Creek Entertainment District economic development agreement.' The EDA calls for the project 'to be completed in multiple phases to be determined and provided by the Developer Parties in a Phasing Plan.' That initial item was postponed by the council last month, but the city faced a legal protest by developers who threatened a lawsuit for breaching the agreement. Tuesday's vote addresses that agreement with an amendment by Ward 4 Councilmember Helen Grant. Grant proposed an amendment to the item which would ' approve, disapprove or postpone the phasing plan contingent on 1) Judge Virgin's ruling being affirmed, or 2), the voters approve…if Judge Virgin's ruling is reversed.' The motion regards the recent petition, signed by more than 10,000 Norman voters, which would have allowed city residents to have a chance to vote on the TIF district, which passed over the summer by a 5-4 ruling of the Norman City Council. However, the petition was challenged by four Norman residents and developers who opposed the TIF being put before the voters. Their challenge, filed in Cleveland County District Court before District Judge Jeff Virgin, was upheld by Virgin, who declared the language of the petition calling for the vote was not properly written and voided the vote. That ruling was appealed by supporters of the petition, and the case now is before the Oklahoma Supreme Court. The amendment to the item was approved 8-1 with Ward 1 Councilmember Austin Ball voting against it. Following the amendment vote, several Norman residents spoke before the council in support of a public vote for the TIF, and skeptical of the entertainment district project. No one spoke in favor of the district. Norman resident Steve Ellis thanked Grant for her amendment, saying he was 'happy with it,' but questioned language in the development as written, and worried that the taxpayers of Norman could be on the hook for unrealized returns on the project. ' …The phrase is, 'subject to market demand.'' He said. 'Does that phrase mean that if the demand never materializes, then the developers are excused from spending the dollar amount listed? That's what it seems to be saying.' Attorney Rob Norman, who represents the petitioners in the case before the Oklahoma Supreme Court, argued on behalf of Grant's amendment. 'Council member Grant has articulated the no-brainer solution here for you. We can argue law till we're blue in the face,' Norman said. ' You have a fiduciary duty to do what councilmember Grant just moved you to do and wait until this referendum petition process is over.' Following the public comments, Ward 7 Councilmember and Mayor-elect Stephen Tyler Holman expressed disappointment that the matter before the council had them in the horns of a dilemma. He didn't want to approve the phasing plan, or the TIF, but also didn't want the city to be sued for violating the agreement. Holman noted that those who approved the original vote for the TIF, including Ward 1 Councilmember Austin Ball and Mayor Larry Heikkila, lost their seats in the last election, at least in part, due to approving the TIF. He chided those who filed the suit to bring it to court, and those who are fighting against having the TIF voted on by the public. ' I just want to be really clear about that, that nothing you have done has created a positive image of yourselves or this entire project,' Holman said. 'It has created animosity and negativity and resentment in this city that is going to last for years. We could have voted on this as a public three times by now and it would've been decided and done one way or the other.' Holman voted along with the majority of the council for the amended resolution, which passed. Ward 5 Councilmember Michael Nash, who quizzed City Attorney Rick Knighton extensively before voting, casted the sole 'no' vote.
