City council approves TIF agreement for new farm equipment distributor

GRUNDY CENTER – A new business, American Farm Equipment, LLC, is set to open its doors later this year, and the Grundy Center City Council is welcoming the new development with a TIF rebate agreement.
At the council meeting on Monday night, the council passed a resolution to expand the Urban Renewal District to include America Farm Equipment, LLC.
Following that, they agreed upon a resolution to approve the developer agreement for American Farm Equipment, LLC, including annual appropriation tax increment payments not to exceed $80,000 over a 10 year period.
In addition to the TIF agreement that was passed Monday night, the council also passed a resolution allowing the mayor to sign an easement with the company. The easement allows the city to keep their welcome sign on the edge of the property that’s now owned by American Farm Equipment LLC.
The company, American Farm Equipment, LLC, sells farm equipment, primarily Franco Fabril combine heads. While the products are made in Argentina, they will be distributed through the location in Grundy Center.
The new business will be located at 305 N Park Ave. in the Grundy Center Development Park, across from Precision. While construction of the building is not complete, they hope to open their doors by roughly November 1 of this year.