The anticipated future development of city-owned property on South 15th Street continues to move ahead, as the City Council has approved resolution of necessity for the project and set a public hearing for June 4.
Earlier this month city leaders enthusiastically approved of the idea to accept proposals for the sale and redevelopment of a city-owned property at 100 S. 15th St. The property includes three 50-foot lots and one 40-foot lot, between Main Avenue and 2nd Avenue South; each lot is 120-feet deep.
The metal cold-storage building, which City Administrator Scott Flory called “an eyesore for a great many years,” is being sold as-is. The City is accepting Requests for Proposals until 2 p.m. May 30, 2018, for the property.
Development of market-rate apartments is favored for the site.
Offers will be reviewed in early June and the Council may consider awarding the property in early July.
Flory noted two additional 50 x 120-foot lots to the south of the advertised property are not part of this sale, but may potentially be available. Those lots are owned by Cerro Gordo County, which local officials say may be open to their sale. Additionally, the county owns two buildings on the west side of South 15th Street which may also be available for purchase in the future.
Chapter 404 of the Code of Iowa enables legislation that grants the City authority to adopt the plan/area. Under the terms of the plan, qualifying residential development would be eligible to receive a partial abatement from property taxes.