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Council consents to assignment of development agreement for outpatient clinic project
Summary
The council approved consent to an assignment that transfers a 2024 development agreement with RiseM LLC for a commercial outpatient clinic to Marshalltown Iowa FGF LLC; staff said the assignee accepted all obligations under the agreement.
Marshalltown —'Dec. 8, 2025 '— The City Council approved a resolution consenting to the assignment of a development agreement and related tax-increment payments for a commercial building originally contracted with RiseM LLC in September 2024.
City staff explained RiseM LLC has executed an assignment transferring all rights and obligations under the development agreement to Marshalltown Iowa FGF LLC, and the assignee has agreed to comply with performance requirements. The consent before council allows the assignment to be executed under the terms of the original development agreement.
Council approved the consent by roll call without substantive amendment.
What happens next: Staff will record the assignment and monitor compliance with the agreement terms; the assignee will assume contractual obligations, including performance benchmarks tied to the development and any tax-increment financing terms in the original agreement.
