city-of-newton-council-report-october-6-2025_657.pdf
Council Approves Tax Rebate for McCann Housing Associates
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Description
The City of Newton Council approved a $45,535.20 property tax rebate to McCann Housing Associates, LP for the 1st half of fiscal year 2025-2026, as stipulated in the development agreement for the McCann Urban Renewal Area. The rebate is funded from the McCann Urban Renewal TIF Fund.
Contract Details
Contract Amount
$45,535.20
Vendor
MCCANN HOUSING ASSOCIATES LP
Agency
City of Newton, IA
Contract Type
FINANCIAL_SERVICES
Document Date
October 6, 2025
Contract Term
Fiscal year 2025-2026 (1st half)
Renewal Date
2026-06-30
Renewal Info
Agreement originated in March 2018; rebate applies to all TIF property taxes paid in FY 25/26. Additional rebates may be possible for the second half of the fiscal year if taxes are paid.
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