DAVENPORT, Iowa (AP) - A state board has denied a request from the city of Davenport for money to help finance a redevelopment area.
The Iowa Economic Development Authority Board made the decision Wednesday.
Davenport was seeking millions of dollars from the Reinvestment District program, which has $100 million in tax money that can be redirected to finance certain projects.
Davenport had submitted an application for funding in March. Earlier this month, the city scored too low to move ahead in the program. City officials then submitted a waiver seeking reconsideration from the authority.
The Des Moines Register reports (https://dmreg.co/1lRC3Tf ) Davenport must now wait until next year to reapply for the program. City officials say they will continue to work with the authority to look for a way to finance the project.
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Information from: The Des Moines Register, https://www.desmoinesregister.com
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