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Council approves development agreement and TIF pledge for large warehouses in I‑80 Business Park

City of Altoona Council · April 1, 2026

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Summary

Altoona's council authorized a development agreement and pledged certain tax‑increment revenues to Hawkeye Investment Partners I, LLC for two newly built warehouses totaling 718,056 square feet leased by JT Logistics; the resolution passed unanimously.

The Altoona City Council on Aug. 19 approved a development agreement with Hawkeye Investment Partners I, LLC and authorized annual appropriation tax‑increment payments to support the project.

Economic Development staff Chad Quick told the council Hawkeye constructed two additional warehouses in the I‑80 Business Park that total 718,056 square feet and are leased by JT Logistics. The council opened a public hearing on the development agreement; no members of the public spoke.

A resolution authorizing appropriation of tax‑increment revenues and pledging certain tax‑increment revenues to pay the development agreement passed on roll call (minutes record the measure as passed 5‑0). The meeting minutes do not list the specific schedule or total tax‑increment payment amounts.

Council asked no recorded follow‑up questions during the hearing. City staff will implement the agreement according to its terms and any associated reporting requirements in the resolution.