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Tama Council throws support to Iowa Premium Beef plant

Propose 10 years of tax incentives

February 22, 2013
By John Speer - Editor , Toledo Chronicle, Tama News-Herald

"We need to be as supportive as possible," Tama City Council member Crystal Kaufman said Monday night summing up the feelings of fellow members and herself. They were endorsing tax measures aimed at helping Iowa Premium Beef investors proceed with plans to open the closed Tama Pack operation here.

While the council's proposed offerings are a bit less than what was sought by IPB, the council expressed feelings their ideas were fair to both the meat pack and city interests.

Mayor Dan Zimmerman was directed to discuss the option of a five year Tax Increment Financing rebate to the company coupled with another five-years of graduated tax abatements at a rate from 90-70-50-30-10 percent with Robert Josten, a financial advisor for cities, who is based in Des Moines.

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In a conference call Monday night, Zimmerman and the council ran the idea by Kate Crowley, a financial representative for the beef plant interests. She said she would take the proposal to them on Tuesday.

IPB had sought a 15-year tax incentive package from the city.

The beef kill, closed since 2004, is planned as a the site for an innovative custom kill operation which could grow to employ 1,000 over time, IPB representatives have indicated.

While no time line for reopening has been announced, the Tama Council approved a sanitary sewer line for domestic waste to be hooked onto the city system Monday night. The line will not carry any animal waste or by -products under the agreement.

In other business Monday the council:

approved purchase of a new John Deere wheel loader with "clam" bucket at a cost of $87,000 from Martin Equipment Co., Cedar Rapids. Other bidders were Caterpillar, $105,409 and Volvo $106,715, both also based in Cedar Rapids. A used CAT was part of the bid deal.

approved a $25,000 rehabilitation loan for Ed and Gloria Hardon for a business building at 126 West 3rd St. The loan was made under the city's revitalization plan.

approved a request for a $250 donation for South Tama High School Project Prom.

 
 

 

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