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Council approves sale of remaining 20 acres in Iowa City Industrial Campus to MidAmerican Energy
Summary
Council authorized conveyance of approximately 20 acres (western half of Outlot C) in the Iowa City Industrial Campus to MidAmerican Energy at $1.15 per square foot, contingent on MidAmerican’s sale of its Lower Muscatine property and approval of final plat; council vote was unanimous.
Economic development coordinator Rachel Kilberg described a negotiated purchase agreement to sell roughly 20 acres (the western half of Outlot C) in the Iowa City Industrial Campus to MidAmerican Energy. The sale price is $1.15 per square foot; at roughly 20 acres that equates to just over $1 million. The transaction is contingent on MidAmerican’s closing on the sale of its Lower Muscatine Road property and on final plat and subdivision approval by the city.
Kilberg said the sale would allow MidAmerican to relocate operations currently at 1630 Lower Muscatine Road and that—if both this sale and an earlier 20-acre sale to PJP Holdings close—no remaining industrial campus land would be available for new industrial parcels at this campus.
A representative from Greater Iowa City testified in support of the sale, noting MidAmerican’s regional investments in energy and renewables.
Council voted 7–0 to approve the conveyance resolution; staff will coordinate contingencies and platting work with the parties. The sale remains contingent on the buyer’s closing and final subdivision approval.
