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Board approves purchase agreement and authorizes chair to sign for North Sixteenth property
Summary
The Board authorized the chair to sign a purchase agreement with a developer for county-owned parcels on North Fifteenth/North Sixteenth, setting a one-year decision window and requiring the county to maintain the property pending development.
The Pottawattamie County Board authorized the chair to sign a purchase agreement with a private developer for county-owned parcels on North Fifteenth and North Sixteenth (referred to in materials as the North Sixteenth property).
Cody Forrestal, representing Trayville LLC (developer) and Paula Hazlewood, CEO of Advanced Southwest Iowa Corporation, addressed the board. Forrestal said Trayville had made changes requested by the board and was asking the county to finalize the agreement so the developer could continue due diligence and preliminary development work. The agreement as described in the packet gives the buyer one year after execution to make a decision and provides up to 30 months for development milestones.
Board members discussed lease/farm-lease timing for county-held farmland that would be affected; staff said the farm lease would be honored through the following September and that arrangements for crop damage or rent would be addressed in the agreement. The county will continue to maintain the property until development occurs.
Why it matters: The sale of county-owned property affects local development opportunities, farmland leases and future tax parcels. The agreement creates a defined timeline for the developer to secure financing and begin development.
Board action: Supervisors voted to authorize the chair to sign the purchase agreement and instructed staff to provide executed copies to the developer and to coordinate lease termination notices as needed.
