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Council approves development agreement with Sunstone Investments; public hearing held
Summary
The City Council opened and closed a public hearing and adopted a resolution authorizing a development agreement with Sunstone Investments LLC; the agreement includes public‑improvement obligations and an LMI housing requirement in the proposed housing units.
The Indianola City Council opened a public hearing on April 7 regarding a proposed development agreement with Sunstone Investments LLC and thereafter voted to adopt a resolution authorizing the city to enter the agreement.
City staff summarized the developer’s responsibilities as presented in the meeting packet and agreement. Those responsibilities include public improvements at the Jefferson and Trail Ridge Roads intersection, realignment of the veterinary clinic driveway, extension of public utilities, construction of three commercial pads, and the development of housing units with a minimum of 31% designated as low‑ and moderate‑income (LMI). The agreement also requires the developer to provide annual certifications to the city to qualify for economic‑development grant payments starting December 1, 2028.
During the public hearing no members of the public offered oral testimony beyond staff responses to council questions. Councilor Dolby asked whether the tax‑increment financing (TIF) agreement accounted for potential state changes affecting TIF; staff responded such protections were included in the agreement (transcript: section referenced by staff but not quoted verbatim).
After closing the public hearing, the council adopted a resolution authorizing the city to enter the development agreement with Sunstone Investments LLC. The resolution passed on a roll‑call vote recorded as five in favor, zero opposed.
Ending: The council directed continued staff work on related development items; the transcript records no immediate amendment to the agreement at that meeting.
