The Iowa Economic Development Authority board is expected to decide at its June 18 meeting what projects will receive funding through the state’s Iowa Reinvestment Act program, according to a board spokesperson.

Board members in late April heard pitches from supporters of six redevelopment proposals competing to use state tax revenue to pay for part of the projects.

Backers of projects located in Des Moines, Urbandale/Des Moines, Cedar Rapids, Ames, Newton and Fort Dodge requested a total of $151.6 million in new tax revenue from the state. However, just $100 million is available.

The state’s reinvestment program allows communities to use new state hotel/motel and sales tax revenue generated by new developments to be reinvested in the area in which the development is located.

The board can decide to fund all or part of a group’s funding request. Board members can also decide not to provide funding for a proposed project.

Learn more about the projects vying for funding through the state program.
–Kathy A. Bolten