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Council sets public hearing on assignment of Floyd Valley Apartments land lease after owner seeks sale
Summary
Council set a public hearing for July 15, 2025, to consider the assignment of the city land lease for Floyd Valley Apartments from Weinberg Investments Inc. to THR Floyd LLC. Representatives said the buyer plans roughly $2 million in renovations and will continue affordable housing participation; financing documents remain under negotiation.
The Le Mars City Council established a public hearing for 12:00 p.m. on July 15, 2025, to consider the proposed assignment of the City’s land lease for Floyd Valley Apartments from Weinberg Investments Inc. to THR Floyd LLC.
City staff explained state and local procedures require council‑set hearings for assignment of long‑term land leases. The current owner, Weinberg Investments Inc., is selling the property and requested the council’s approval to assign the existing lease to THR Floyd LLC. A…
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