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Council authorizes termination of Catalyst Grant contract for 602 G Avenue; development agreement ended
Summary
Following an update from owner JR Kennedy that the rehabilitation project is on hold due to rising costs, the council authorized termination of the development agreement with JR & Michelle Kennedy and directed the mayor to sign a termination letter to the Iowa Economic Development Authority because the June 26, 2025 contract completion date could not be met; no Catalyst Grant funds were expended.
Owner JR Kennedy told the council the renovation project for 602 G Avenue is "on the back burner" because cost estimates have risen; Kennedy said the building is not being marketed for sale. After that update, the council authorized Mayor Eberline to sign a termination of the development agreement with JR & Michelle Kennedy.
City officials also addressed the city’s contract with the Iowa Economic Development Authority (IEDA) for a Catalyst Grant tied to the same property. Katie Rasmussen, Chamber Main Street Director, said the city was invited to apply based on the scope of work but that changing ownership and substantially higher costs meant the contract completion date of June 26, 2025 could not be met. The council authorized Mayor Eberline to sign the termination letter to IEDA; Clerk Kristy Sawyer confirmed no grant funds have been spent during the past two years.
