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Developer asks IEDA to reconsider missing grant funds as Bell Tower Lofts nears occupancy
Summary
Hi Properties' Daryl Lehi updated council on restoration progress at the Bell Tower Lofts, said stained glass has been reconditioned and stored on-site, and requested the city endorse a petition to IEDA to reconsider roughly $1 million in unmet CDBG disaster funding while lease-up is planned to start 90 days before occupancy (target July–August).
Daryl Lehi of Hi Properties presented a progress report on the Bell Tower Lofts restoration and asked the council to endorse a request to the Iowa Economic Development Authority (IEDA) to reconsider an unmet portion of the project’s Community Development Block Grant (CDBG) disaster recovery request.
Lehi said the team originally requested about $3.99 million from CDBG disaster recovery funds and was awarded $2,595,000; he reported roughly $1,000,004 remained unfunded and that he was asking IEDA to reconsider that non‑award. "We did save the bell," Lehi said, noting the bell is off‑site in storage for safekeeping. He also said stained glass has been reconditioned and is on‑site in crates and that interior work is substantially complete (drywall, mudding, trim installation ongoing).
When asked about lease‑up timing, Lehi said CDBG lease‑up rules require outreach to start approximately 90 days prior to initial occupancy; the team expects to begin applications in May with unit availability and delivery anticipated in July–August. Lehi invited council and the public to tour units as finishing work continues.
Council members asked about stained‑glass protection. Lehi said new exterior windows will serve as the primary protection and that stained glass will be installed toward the end of interior work. Council members and attendees thanked the developer and noted the team invested over $1 million to stabilize the site prior to construction. Staff noted the city recently granted a Brownfield award extension related to the project.
Next steps: staff will consider endorsing the IEDA reconsideration request and the developer will continue finishing work with expected occupancy in mid‑summer.
