Section 403.1 – Title.
403.1 Title. This chapter shall be known and may be cited as the “Urban Renewal Law”. [C58, 62, 66, 71, 73, 75, 77, 79, 81, §403.1]
Section 403.10 – Bonds as legal investment.
403.10 Bonds as legal investment. All banks, trust companies, savings associations, investment companies, and other persons carrying on an investment business; all insurance companies, insurance associations, and other persons carrying on an insurance business; and all executors, administrators, curators, trustees, and other fiduciaries, may legally invest any sinking funds, moneys, or other funds belonging to […]
Section 403.11 – Exemptions from legal process.
403.11 Exemptions from legal process. 1. All property of a municipality, including funds, owned or held by it for the purposes of this chapter shall be exempt from levy and sale by virtue of an execution. Execution or other judicial process shall not issue against the property and a judgment against a municipality shall not […]
Section 403.12 – Urban renewal project—powers of municipality.
403.12 Urban renewal project—powers of municipality. 1. For the purpose of aiding in the planning, undertaking or carrying out of an urban renewal project located within the area in which it is authorized to act, any public body may, upon such terms, with or without consideration, as it may determine: a. Dedicate, sell, convey or […]
Section 403.13 – Presumption of title.
403.13 Presumption of title. Any instrument executed by a municipality and purporting to convey any right, title or interest in any property under this chapter shall be conclusively presumed to have been executed in compliance with the provisions of this chapter insofar as title or other interest of any bona fide purchasers, lessees or transferees […]
Section 403.14 – Urban renewal agency powers.
403.14 Urban renewal agency powers. 1. A municipality may itself exercise its urban renewal project powers, as defined in this section, or may, if the local governing body by resolution determines such action to be in the public interest, elect to have such powers exercised by the urban renewal agency, if one exists or is […]
Section 403.15 – Agency created.
403.15 Agency created. 1. There is hereby created in each municipality a public body corporate and politic to be known as the “urban renewal agency” of the municipality. An urban renewal agency shall not transact any business or exercise its powers under this chapter until or unless the local governing body has made the finding […]
Section 403.16 – Personal interest prohibited.
403.16 Personal interest prohibited. 1. For purposes of this section: a. “Action” does not include resolutions advisory to the local governing body or agency by any citizens group, board, body, or commission designated to serve a purely advisory approving or recommending function under this chapter. b. “Action affecting such property” includes only that action directly […]
Section 403.17 – Definitions.
403.17 Definitions. The following terms wherever used or referred to in this chapter, shall have the following meanings, unless a different meaning is clearly indicated by the context: 1. “Affected taxing entity” means a city, county, or school district which levied or certified for levy a property tax on any portion of the taxable property […]
Section 403.18 – Rule of construction.
403.18 Rule of construction. Insofar as the provisions of this chapter may be inconsistent with the provisions of any other law, the provisions of this chapter shall be controlling. The powers conferred by this chapter shall be in addition and supplemental to the powers conferred by any other law. [C58, 62, 66, 71, 73, 75, […]
Section 403.19 – Division of revenue from taxation — tax increment financing.
403.19 Division of revenue from taxation — tax increment financing. A municipality may provide by ordinance that taxes levied on taxable property in an urban renewal area each year by or for the benefit of the state, city, county, school district, or other taxing district, shall be divided as follows: 1. a. Unless otherwise provided […]
Section 403.19A – Targeted jobs withholding credit — pilot project.
403.19A Targeted jobs withholding credit — pilot project. 1. For purposes of this section, unless the context otherwise requires: a. “Business” means an enterprise that is located in this state and that is operated for profit and under a single management. “Business” includes professional services and industrial enterprises, including but not limited to medical treatment […]
Section 403.2 – Declaration of policy.
403.2 Declaration of policy. 1. It is hereby found and declared that there exist in municipalities of the state slum and blighted areas, as defined in this chapter, which constitute a serious and growing menace, injurious to the public health, safety, morals, and welfare of the residents of the state; that the existence of such […]
Section 403.20 – Percentage of adjustment considered in value assessment.
403.20 Percentage of adjustment considered in value assessment. In determining the assessed value of property within an urban renewal area which is subject to a division of tax revenues pursuant to section 403.19, the difference between the actual value of the property as determined by the assessor each year and the percentage of adjustment certified […]
Section 403.21 – Communication and cooperation regarding new jobs training projects.
403.21 Communication and cooperation regarding new jobs training projects. 1. In order to promote communication and cooperation among cities, counties, and community colleges with respect to the allocation and division of taxes, no jobs training projects as defined in chapter 260E shall be undertaken within the area of operation of a municipality after July 1, […]
Section 403.22 – Public improvements related to housing and residential development — low income assistance requirements.
403.22 Public improvements related to housing and residential development — low income assistance requirements. 1. With respect to any urban renewal area established upon the determination that the area is an economic development area, a division of revenue as provided in section 403.19 shall not be allowed for the purpose of providing or aiding in […]
Section 403.23 – Audit — certificate of compliance.
403.23 Audit — certificate of compliance. 1. Each municipality that has established an urban renewal area that utilizes, or plans to utilize, revenues from the special fund created in section 403.19, shall make an annual certification of compliance with this section. For any year in which the municipality is audited in accordance with section 11.6, […]
Section 403.3 – Municipal program.
403.3 Municipal program. The local governing body of a municipality may formulate for the municipality a workable program for utilizing appropriate private and public resources to eliminate slums and prevent the development or spread of slums and urban blight and to encourage needed urban rehabilitation. Such workable program may include, without limitation, provisions for: 1. […]
Section 403.4 – Resolution of necessity.
403.4 Resolution of necessity. A municipality shall not exercise the authority conferred upon municipalities by this chapter until after its local governing body has adopted a resolution finding that: 1. One or more slum, blighted or economic development areas exist in the municipality. 2. The rehabilitation, conservation, redevelopment, development, or a combination thereof, of the […]
Section 403.5 – Urban renewal plan.
403.5 Urban renewal plan. 1. A municipality shall not approve an urban renewal project for an urban renewal area unless the governing body has, by resolution, determined the area to be a slum area, blighted area, economic development area or a combination of those areas, and designated the area as appropriate for an urban renewal […]