Mayor of Charles City Dean Andrews is hearing murmurs that the sky-sulking McQuillen Place project should be completed by the end of 2020. In order to do this, the project needs a new developer, and not only a rich developer, but one with follow-through and the chops to fully complete the project. The deadline to submit a bid for the project is March 9th at 4 p.m.
After the deadline, Charles Smith, the attorney entrusted with handling the chapter 7 bankruptcy project, will meet with Charles City representatives and the Iowa Economic Development Authority to choose the next developer of the project.
Andrews says the city was in talks to provide the project with funding and assistance after it was completed – since it hit a bankruptcy hurdle instead, the city kept their aid. He explains if someone can step-up and finish the project, that the city would be willing to back that person through tax increment financing and cash loans.