City of Charles City Council/Staff Planning Session Agenda Packet 2026-06-24
City Prepares TIF Support for Cambrex Expansion
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Description
Charles City is amending its Southwest Bypass Urban Renewal Plan to add the Cambrex Charles City, Inc. Development Project. The City anticipates a future development agreement offering up to $405,000 in TIF rebates plus $15,000 in admin costs, funded by new property tax revenues from the expansion at 1205 11th Street.
Contract Details
Contract Amount
Not to exceed $405,000, plus legal and administrative fees not to exceed $15,000
Vendor
CAMBREX CHARLES CITY INC
Agency
City of Charles, IA
Contract Type
FINANCIAL_SERVICES
Document Date
June 24, 2026
Renewal Info
Future development agreement is expected to use annual appropriation TIF rebates with a total cap of $405,000 plus $15,000 in admin fees; exact payment schedule to be defined in the forthcoming agreement.
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