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Council backs incentives for Transamerica site redevelopment amid residents' concerns over trees and incentives
Summary
Council approved staff support for standard redevelopment incentives for the former Transamerica site (EOP Development LLC) while residents urged conservation of a seven‑acre oak woodland and questioned tax breaks for a parcel tied to a charter school; staff said the school parcel will not receive incentives and explained the city's tree‑replacement rules and costs.
On Feb. 11 the Cedar Rapids City Council voted to support standard city financial incentives for a major redevelopment at the former Transamerica site along Edgewood Road NE and 40 Second Street NE, a project proposed by EOP Development LLC.
Scott Mather and staff described the master plan redevelopment as an estimated $70,000,000 capital investment across roughly 30 acres of the site (excluding an area recently contracted to Cedar Rapids Prep) that would include renovation of existing commercial towers and construction of new commercial lots. Staff said the city's standard incentive for master plan redevelopments is a 10‑year, 50% rebate of increased taxes generated by the project; staff estimated total taxes generated over 10 years could be about $25,000,000 with an estimated $10,000,000 rebated under the proposal.
The council heard multiple public comments opposing aspects of the incentives and site plan. Leslie Chalmers said she and other neighbors oppose deforestation and asked that any tax breaks be contingent on conserving the mature forest (Lot 17). "Deforestation does not align with our community's climate action plan," Chalmers said.
Restaurant owner Jeff Beer warned incentives can shift existing businesses and jobs from older commercial corridors to new, tax‑favored sites. "What you're doing is you're shifting jobs," Beer said, arguing incentives should target projects that bring new economic activity rather than relocate existing businesses.
Britta Sandberg questioned incentives tied to a parcel where a public charter school is reported to have signed a contract. Scott Mather replied staff learned of a signed contract with Cedar Rapids Prep the prior day and said the school parcel will not be part of the development agreement, will not pay taxes and will not receive tax incentives.
Council members pressed staff on job‑count criteria, protections for neighbors and whether the school would be included in traffic studies; staff said the developer will be required to complete a traffic study that includes the school, provide engineered road designs for city review and submit a stormwater management plan per city ordinance. On tree protections, staff explained zoning relief includes a tree‑replacement calculation and that developers may pay a $750 per‑tree fee (which includes two years' maintenance) if on‑site replacement is not feasible; staff estimated replacing the stand of trees could approach $2,000,000.
The council approved a resolution supporting the standard incentive (motion moved by Council member Todd, seconded by Council member Hager) by voice vote. Staff said next steps include the traffic study, engineered designs and bringing a development agreement back to council for further action.
