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Council approves development agreement, potential $1 million incentive for former library redevelopment
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Summary
Council approved resolution 32758 to authorize a development agreement for the former library site in Uptown Marion; the proposed mixed‑use project includes roughly 63 rental units, 12,000 sq ft of retail and conditional incentives including a land sale and up to $1,000,000 in rebate over 20 years, with construction targeted to begin in late 2026.
The Marion City Council approved resolution 32758 on March 5, authorizing a development agreement with private developers for the former library redevelopment site in Uptown Marion. The agreement contemplates tax‑increment payments and a budgeting of certain tax‑increment revenues to pay the development agreement.
Developer representative Mike Almendinger (speaker 9) of the Kilborn Group (based in Fargo) described the project as mixed‑use, including about 12,000 square feet of retail, roughly 63 rental apartment units, approximately 68 indoor parking spaces and around 63 surface parking stalls for residents and retail customers. Almendinger said the team plans to apply for Iowa tax credits during the summer and aims to break ground around December 2026 with a 15–18 month construction window, allowing a roughly six‑month buffer for potential delays.
Almendinger and staff noted incentives tied to the project could include the land and a grant "up to $1,000,000 with a 100% rebate for 20 years," though the transcript records that the grant is conditional and "only if needed." Staff presented an estimated minimum assessed value tied to the project (transcript: $73,800,000).
Council discussion touched on retail tenancy and whether the project could include a grocery option; council members said they will continue conversations with the developer on tenant mix. After questions about schedule and parking, the council moved, seconded and approved resolution 32758 by voice vote.
Ending: With the resolution approved, the development agreement is authorized to proceed; final site planning, financing steps (including any tax credits) and detailed project approvals will follow in the developer and staff timelines.
