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The city of West Des Moines is working to establish a financial incentive policy specifically geared toward uses that are permitted or conditionally permitted in its industrial zoning districts.

On Dec. 16, the city’s Finance and Administration subcommittee discussed the proposed incentive, which would provide a tax rebate on newly constructed buildings and those that have been improved, thereby increasing their taxable valuation. The rebate would be paid on a five-year sliding scale, with the first year of the incentive being a 75 percent rebate of the tax-increment revenues generated by “agreed-upon” improvements.

Compared with the city’s current tax-abatement policy, which targets specific types of industrial uses such as warehouses and research and development facilities, the proposed rebate policy would also give the City Council more discretion regarding to whom the incentive may be offered.

Clyde Evans, economic development director, said the financial impact of the incentive is difficult to measure and is dependent on how many take advantage of the program. “It’s hard to say how much new industrial construction we are going to get,” he said.

Only buildings constructed or improved upon in an active or proposed urban renewal area will qualify for the Industrial District Incentive Policy.

The City Council was expected to approve the resolution at its Dec. 28 meeting.