Clear Lake council today to consider renewing tax rebate agreement with Surf Ballroom

CLEAR LAKE — The Clear Lake City Council meets this morning in a special session to consider approving the extension of a property tax rebate agreement with the group that oversees the operations of the Surf Ballroom in Clear Lake.

The North Iowa Cultural Center & Museum originally had a three-year agreement with the city starting in 2009 and have had two five-year extensions since that time, with the current agreement expiring in June 2021. 

The proposed renewal would involve the city portion of the property taxes paid on three properties — the ballroom, the adjoining ballroom dressing room annex, and the Surf Ballroom Music Enrichment Center — in an amount not to exceed $90,000 over a five-year period. The property tax repayments happen twice a year with each payment being roughly $4000.

For the agreement to be included in the fiscal year 2022 tax-increment financing certification request to the county, the resolution approving the agreement must be approved and filed by tomorrow.

The Clear Lake council meets at 10 o’clock this morning at City Hall.