The Carroll City Council has scheduled two public hearings for their upcoming Aug. 8 meeting. The first hearing is required for the council to formally approve a development agreement with Brian and Holly Wendl and Jason and Karen Atherton for renovation work at the historic Hoyt mansion on West 7th Street in Carroll. City Manager Mike Pogge-Weaver explains some of the specifics contained in the pending agreement.
The 15-year tax increment financing (TIF) rebate would be capped at $250,000, and Pogge-Weaver notes that would only occur if the building’s value reaches or exceeds $1.01 million once the renovations are completed. The council voted unanimously to set the public hearing date for their next meeting. The other public hearing set for Aug. 8 is regarding a $700,000 capital loan note to fund a portion of the $7.35 million improvement project at the Carroll Rec Center.
The council approved Pogge-Weaver’s recommendation for the Aug. 8 hearing. Other funding sources for the $7.35 million project include $5.4 million in local option sales tax (L.O.S.T) debt, $1 million in L.O.S.T. collections, and a mix of American Rescue Plan Act (ARPA) funds, General, and Hotel/Motel Tax funds. Pogge-Weaver says the council also needed to approve a resolution declaring its intent to use debt proceeds to reimburse itself for prior related expenditures.
The council also approved that resolution. The project includes HVAC unit upgrades, locker room improvements, a raised walking track in the gymnasium, and ADA-compliance reconfiguration of the upper-level mezzanine.
