Holiday Lake Rural Improvement Zone (RIZ) is a local TIFF district formed in 2010 under Iowa Code 357H with a 20-year charter. The charter will sunset on June 30, 2032. The Rural Improvement Zone’s purpose is to remove lake sediment and prevent sediment from entering the lake which ultimately will improve the water quality. There are five RIZ zones in Iowa as follows: Lake Panorama, Sun Valley, Sundown, Diamondhead, and Holiday Lake. RIZ is classified as an other government entity overseen by the Iowa Department of Management.
The Holiday Lake RIZ is managed by five trustees elected to 3-year terms. Elections are conducted by the Poweshiek County Auditor’s office. Current trustees are Brad Storm, President, Term Ends 2024; Rick Happe, Treasure, Term Ends 2024; Todd Eiler, Clerk, Term Ends 2023; Tom Dvorsky, Term Ends 2023 and Tom Hinders, appointed to fill Mike Stoos position, Term Ends 2023. The next elections are August 1, 2023. RIZ trustees are elected by registered voters that have full time residence at Holiday Lake.
RIZ funding is complicated. The below example has been verified by the IA DOM.
-For State of Iowa Fiscal Year Ending 6-24:
-2010 base property valuation of our zone that tax rate is applied: $32,281,738.
-2022 base property valuation of our zone that tax rate is applied: $70,893,665.
-The taxation base has increased by $38,611,927 since 2010
-The 2022 minimum base 50% of taxable valuation is $35,466,833
-The maximum funds that may be diverted for FY 2024 is $645,970.
The debt certification year is the mechanism where the county auditor reimburses RIZ.
RIZ certifies expenses for a 12-month period ( 12/1/23 to 11/30/2024) by 12/1/2024 to the county auditor. The county auditor adds the indebtedness total into figuring the counties tax rate for the Sept 2025 and March 2026 tax bills. Dollars return to RIZ’s checking account after Poweshiek County receives taxes for the above two periods. A $50,000 excavating expense paid in July 2023 is placed on the Dec 1, 2023, debt certification form. This cost is reimbursed to RIZ after Sept 2024 & March 2025 taxes are paid. The lag is 14 months at the minimum and 20 months at the maximum for dollars to be returned to RIZ to pay off borrowed debt.
Current Holiday Lake Riz Projects
-Dredging the South 600 Ft of Hap’s Cove after Labor Day with a cable operated mini dredge.
-Paying for 50% of the costs to apply chemicals to control aquatic vegetation.
-Testing a portable Piranha pump mini dredge to remove sediment from boat lifts.
-Paying for 50% of the costs to rebuild our Holiday Lake dam spillway.
-Testing the beach for e coli and microcystin using the DNR testing procedure.
Brad Storm, President
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