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West Des Moines council approves amendment raising Valley West urban renewal incentive cap to $110 million, 4–1
Summary
The West Des Moines City Council voted 4–1 on April 28 to approve Amendment No. 1 to the Valley West Urban Renewal Area, increasing the incentive cap from $95 million to $110 million; the measure is contingent on developer agreements and cooperation from JCPenney.
The West Des Moines City Council voted 4–1 on April 28 to approve Amendment No. 1 to the Valley West Urban Renewal Area, increasing the maximum incentives under the plan from $95,000,000 to $110,000,000.
The amendment, the council was told, is intended to allow for additional city infrastructure — potentially including a parking garage — and would be deployed incrementally over an anticipated 10–12 year build-out. “The $110,000,000 … is going to be deployed over a 10 to 12 year period,” the chair said, adding the increase is designed to leverage private investment.
Council discussion focused on developer commitments and timing. One council member…
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