Certified development site application expected to finish early

By Bob Steenson, bsteenson@charlescitypress.com

Progress continues to be made on efforts to establish a state-certified development site in Charles City, and the application is expected to be completed well ahead of the deadline.

Tim Fox, executive director of the Charles City Area Development Corp., gave that group’s board an update on the progress at its regular monthly meeting this week.

The deadline to submit the application to the Iowa Economic Development Authority is Aug. 20, but Fox said it will probably be ready to submit in May.

“That gives us 2½ months to fine-tune anything that we don’t get right the first time,” he said.

Most of the many studies and surveys that are needed as part of the process have been completed satisfactorily, Fox said.

A wetlands study that couldn’t be done until spring will begin soon, and the title opinion and abstracts will be brought up to date.

The Area Development Corp. has an option to buy about 76 acres on the northeast corner of the intersection of South Grand Avenue and U.S. Highway 218 (the Avenue of the Saints), at a price of a little over $2 million.

The group is expected to ask the Southwest Bypass TIF Administration Board to approve the land purchase at the administration board’s meeting this morning (Friday).

Funds for the purchase will likely be through bonds sold by Charles City or Floyd County and repaid through tax increment financing (TIF) revenue and through the sale of the property to an industrial company or companies.

But which entity, the city or the county, would issue the bonds, “that’s yet to be determined,” Fox said.

Having a state-certified site tells a prospective business that everything is ready to begin development without unexpected surprises or delays, Fox has said previously.

It means all the environmental, geological, archaeological, historical and civil engineering tests and studies have already been done, that utilities and other services are available or can be made available within six months, and that the land can be purchased with a clear title.

“It eliminates the risk for a company looking at Charles City or Floyd County,” Fox said.

There are currently 22 state-certified development sites in Iowa.

Also at the Area Development Corp. meeting on Wednesday, the board:

• Learned that Debi Durham, the director of the Iowa Economic Development Authority and the director of the Iowa Finance Authority; and Beth Balzar, the manager of business development at the IEDA, will be in Charles City at 10 a.m. Thursday, May 23, at the public library for a forum to talk about business development issues and answer questions.
• Heard an update from Fox that the Floyd County Housing Trust Fund Furnace Replacement Program had a record year, paying to replace 49 old furnaces in the homes of Floyd County and Nashua residents who meet income and other guidelines. The program pays all or part of the cost of a furnace replacement by the contractor of the homeowners’ choice.

Fox said the program received $98,378 from the State Housing Trust Fund and $61,933 from the USDA Rural Development Housing Preservation grant in fiscal year 2019.

• Heard an update from Fox that the Floyd County housing needs assessment report will soon be finished.