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Riverside Holding Public Hearing for Tax Incentive Agreement

Posted: Saturday, April 21st, 2018 at 6:27 am
Author: KCII News - Sam McIntosh

The City of Riverside is holding a public hearing for comments on a development agreement with a business owner.

The city is looking to give property tax incentives to ICE IT, LLC in an amount not to exceed $80,000 over a seven-year period. Terry Stumpf of ICE IT, has purchased the property at 70 West First Street, originally known as the Icehouse Bar & Grill. Stumpf plans to open a restaurant at the property and wishes to use the tax incentives for upgrades to the 10-year-old building.

Mayor Allen Schneider comments on the development, “We’re working with an attorney to make sure that we’ve got all our ducks in a row with that project, so one of the suggestions was to hold a public hearing related to the debt that the city would incur with that agreement.”

A public hearing is scheduled for the city council meeting on May 7th.