Jared Rahe walks with his son Maddox, 3, on a sunny day in March, along West Bay Road, in West Bay Estates, on the shore of Silver Lake, in Lake Park, Iowa. Silver Lake can be seen in the distance. The Dickinson County community has benefited in recent years from housing assistance programs. (Photo: Russ Oechslin, Sioux City Journal)Over the last four years, the Dickinson County city of Lake Park has directed more than $550,000 in funds for Low-to-Moderate (LMI) housing assistance as the result of Tax Increment Financing (TIF) programs.
TIF funds allow taxing entities to divert future property tax revenue increases from a defined area toward economic development projects or public improvement efforts.
The projects in Lake's Park case are a pair of housing developments on Silver Lake: Silver Shores and West Bay Estates.
Click here to read more from the Sioux City Journal
Click here to learn more about the Lake Park Housing Authority