The City Council voted 7-0 to approve a development agreement with Adam Vogel Building LLC to rehabilitate 1701 Central Avenue, a property long affected by vandalism and disrepair. The developer plans a roughly $1,000,000 rehabilitation that will stabilize the building, restore the first-floor commercial space, and create five new rental units.

Assistant economic development director Ian Hatch summarized the package: the developer will invest about $1,000,000; the city will provide up to $50,000 in downtown housing creation grants ($10,000 per unit), downtown rehabilitation grants up to $35,000, and facilitate a community catalyst remediation grant from the Iowa Economic Development Authority not to exceed $100,000. The agreement also allows 15 years of tax‑increment financing (TIF) rebates on the incremental property tax revenues tied to the improvements; estimated rebates were described in staff materials as not to exceed approximately $65,000.

Hatch said the property will also leverage federal historic tax credits to reduce rehabilitation costs. The council’s action included the required amendment to the Greater Downtown Urban Renewal District plan to accommodate the TIF rebate structure. The motion to adopt the resolution authorizing the development agreement passed unanimously (motion by Roussell, second by Sprank).

Mayor Brad Cavanaugh and councilmembers praised the project as part of the broader Central Avenue revitalization initiative. Councilmember Jones described the agreement as consistent with city strategies to remove blight and support downtown housing and business activity.

Implementation steps in the agreement require the developer to complete construction and meet unit creation targets within the timeline set in the agreement; staff will monitor progress and process semiannual TIF rebates per the contract.