News 5 October 2018

Council approves TIF agreement with ATEK

A development agreement to share increased tax revenues with a business that built a new warehouse, a curb cut that will cause loss of a parking space by the courthouse, and a tile line repair in a saturated area — barely — were approved in a half-hour meeting of New Hampton City Council on Monday.Following a public hearing, the council approved a development agreement with ATEK Metal Technologies for tax increment financing on the increase in property value created by the company’s construction of an additional warehouse.— For more on this story, see the Oct. 5 New Hampton Tribune.

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