Charles City, Iowa – Still no action has been taken on the part of the Charles City Council regarding a 75 acre plot worth nearly two million dollars for a certified site.
City officials told North Iowa News the city and the Charles City Area Development Corporation have reviewed recent amendments and “seemed to be acceptable” to both parties.
Changes include process for leasing, crop damage reimbursement and if the city is approached about the sale of the land the price per acre would be $30,000 or less.
Officials say the agreement would stipulate the site would need state certification before an agreement is signed.
The city plans to use tax increment financing dollars from the South Grand Urban Renew TIF district for funds. Loan payback is estimated at 11 months.
Land is located near the Highway 218 overpass and Gilbert Street on the east side.