Land Use & Zoning

Iowa's Urban Renewal Act (Iowa Code Chapter 403) allows cities to use which tool to fund the remediation and redevelopment of blighted or economic development areas?

AEminent domain for purely private benefit
BTax increment financing (TIF) and urban renewal bonds✓ Correct
CState income tax exemptions for developers
DIREC special licensing for urban renewal projects

Explanation

The Iowa Urban Renewal Act authorizes cities to designate urban renewal areas and use TIF financing and revenue bonds to fund public improvements, environmental cleanup, and infrastructure that supports redevelopment of blighted or underdeveloped areas.

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