Vacant lot adjoining Central Gardens up for sale
Wednesday, 21 March 2012 10:36
Gardens Board will discuss $335,000 asking price
The owner of vacant property adjacent to Central Gardens of North Iowa has placed the one-plus acre lot for sale.
Donna Eckard, of Lake Iowa Realty, said Monday that the owners of the property, Burns & Burns Architects, of
Iowa City, are seeking $335,000 for the parcel. Burns & Burns purchased the former Central School building
and northern 155-feet of the school site from the school district in May 1999 for $63,000. The school district was
responsible for demolition of the school building.
Burns & Burns had hoped to build a 30-unit senior housing complex on the site and had applied for tax credits from the state. The Iowa Finance Authority placed the project on a reserve funding list, but never awarded the $211,000 in tax credits Burns & Burns was seeking.
Clear Lake Planing & Zoning Commission had granted a zoning change to the property to accommodate a senior housing project.
Chip Kinsey, president of the Central Gardens of North Iowa Board of Directors, said he was aware of the listing of the property on the open market and reported its availability to his Board in March. He expects more discussion at the group’s April meeting, when more board members will be present.
“We were aware the owners wanted to sell. At the time they didn’t have a firm offer in mind, but I had a sense they would be looking for more than we could likely afford,” said Kinsey. “The best thing would be for (Central Gardens) to own and develop the property. I think it would be better to be put to public use.”
Kinsey said he was not aware of the $335,000 asking price, but noted it is some six times greater than the -Read More Via e-Edition