City Council approves Panther Farms infrastructure agreement with $400,000 forgivable loan

The Cedar Falls City Council meeting on July 7, 2025, focused on two significant development projects: a new agreement with Panther Farms and a public improvement project for Walters Pond.

The council approved a new infrastructure development agreement with Panther Farms, which will replace a previous agreement from June 2023. Under the new terms, the city will no longer bear the costs of road construction upfront. Instead, the developer will take the lead on these expenses, with the city providing a forgivable loan of $400,000. This loan will be disbursed in two phases: $100,000 upon the start of phase one improvements and the remaining $300,000 upon completion. The agreement also includes a tax rebate incentive for the developer, who will be responsible for the estimated $400,000 in construction costs.

During the discussion, council members sought clarification on the original agreement's reimbursement structure, which involved the city recouping 50% of road construction costs as lots sold. The developer, represented by Kevin Fittrow of Panther Builders, confirmed that while they would build some homes, the lots would also be available for other builders.

The second major topic was the public improvement project for Walters Pond, which involves reconstructing the storm sewer outlet. The city plans to acquire temporary easements from three properties to facilitate this work. Matt Tolan, a city staff member, outlined the project, emphasizing that access would be managed carefully to minimize disruption to property owners. Public comments included concerns about access to utility boxes and the point of contact for the Walters Pond Association, which the city addressed.

The council unanimously approved both the development agreement with Panther Farms and the public improvement project for Walters Pond, marking significant steps forward for infrastructure development in Cedar Falls.