Fort Madison, IA – Lee County wants more answers before approving the use of a financial tool by a new industry. Fort Madison is in the process of expanding the use of tax increment financing districts, on the city's southwest side, to include the future home of Siemens Power Generation. The county must sign off on the plan because part of the land that will be included in the TIF district is outside city limits. The supervisors are not ready to do that, though, and have tabled the measure. Supervisor Larry Kruse says the board has concerns about the scope of the proposal. The board wants the city to begin the process of annexing in the property that will be added to the TIF district. Fort Madison City Manager Larry Dinwiddie says the tax district needs to be expanded within the next few weeks, or the city will have to cover part of the financial package offered to Siemens. The Board of Supervisors says it is willing to hold a special meeting, later this week, to make sure all deadlines are met.
Financial Incentive Delayed in Lee County
