Chapter 404 of the Iowa Code authorizes a City to designate an area as a revitalization area. Improvements to qualified real estate within designated areas may then be eligible to receive a total or partial exemption from property taxes for a specified number of years. The exemptions are intended to stimulate private investment by reducing the tax increase that would normally result from making improvements to real estate property. The purpose is to attract development to specific areas, which might otherwise continue to deteriorate, thereby stabilizing or perhaps even increasing the tax base with those area. The City of Council Bluffs has the following revitalization areas: Tract II Industrial Park.