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Coralville officials outline options with ICCSD for proposed recreation center, set June milestones
Summary
Park and Recreation Director Sherri Proud said talks with ICCSD included using PPEL funds for a long-term lease if the district owns the property; the team discussed a horizontal property regime as one option. ICCSD was told a decision could be made by the end of June; the core team meets Mortenson on June 18 to discuss pricing.
Park and Recreation Director Sherri Proud updated the Coralville City Council on progress toward a proposed recreation center. Proud said she, City Administrator Kelly Hayworth and Timothy Oswald of Piper Sandler met with ICCSD officials to explore financing and lease options.
One financing idea discussed was using PPEL funds to support a long-term lease, but Proud said the district would have to own the property to take that funding path. The participants discussed a horizontal property regime as one possible way to structure ownership to satisfy ICCSD’s requirement.
Proud told the council ICCSD had been told a decision about the district’s involvement could be made by the end of June. She also said the core project team will meet with Mortenson on June 18 to discuss pricing, and that Hayworth and Proud have begun meetings with prospective donors for the park-improvement portion of the project.
No final agreement or formal commitment from ICCSD was recorded at the work session; the council will await ICCSD’s decision and the Mortenson pricing discussion before any formal steps are taken.
