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Council approves urban renewal area, backs development agreement for DC Taylor headquarters
Summary
Council moved to approve the DC Taylor urban renewal area and a development agreement for a new 33,000-square-foot national headquarters that staff said will retain 75 jobs; the package includes a 10‑year, 50% tax rebate estimated to rebate about $460,000 over 10 years.
City staff summarized a development agreement and urban renewal area for DC Taylor’s planned national headquarters and the council approved the related resolution and approved the ordinance on first reading.
Scott Mather of the city manager’s office said the project is a roughly $6,000,000 capital investment for a 33,000‑square‑foot facility (about 10,000 square feet of office and ~24,000 square feet of warehouse), retaining 75 jobs in Cedar Rapids. Construction was presented to commence July 1, 2025, with completion targeted for Sept. 30, 2026. Mather said a standard 10‑year 50% tax rebate is estimated to generate about $1.1 million in total taxes over 10 years, of which roughly $460,000 would be rebated.
Council held the public hearing with no registered objections, approved the resolution to establish the urban renewal area and moved the first-reading ordinance associated with the development agreement; the motion carried.
The council's action authorizes staff to continue finalizing documents and return for subsequent ordinance readings and final approval of the development agreement.
