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. Your browser doesn’t support HTML5 audio Your browser doesn’t support HTML5 audio Your browser doesn’t support HTML5 audio
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.