HomeMy WebLinkAbout2008-03-11 Public hearing,'
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NOTICE OF PUBLIC HEARING ON
PLANS, SPECIFICATIONS, FORM OF
CONTRACT AND ESTIMATED COST
FOR SENIOR CENTER BOILER AND
CHILLER REPLACEMENT PROJECT IN
THE CITY OF IOWA CITY, IOWA
TO ALL TAXPAYERS OF THE CITY OF IOWA
CITY, IOWA, AND TO OTHER INTERESTED
PERSONS:
Public notice is hereby given that the City
Council of the City of Iowa City, Iowa, will conduct
a public hearing on plans, specifications, form of
contract and estimated cost for the construction of
the Senior Center Boiler and Chiller Replacement
Project in said City at 7:00 p.m. on the 11th day of
March, 2008, said meeting to be held in the
Emma J. Harvat Hall in City Hall in said City, or if
said meeting is cancelled, at the next meeting of
the City Council thereafter as posted by the City
Clerk.
Said plans, specifications, form of contract and
estimated cost are now on file in the office of the
City Clerk in City Hall in Iowa City, Iowa, and may
be inspected by any interested persons.
Any interested persons may appear at said
meeting of the City Council for the purpose of
making objections to and comments concerning
said plans, specifications, contract or the cost of
making said improvement.
This notice is given by order of the City Coun-
cil of the City of Iowa City, Iowa and as provided
bylaw.
MARIAN K. KARR, CITY CLERK
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NOTICE OF PUBLIC HEARING
Notice is hereby given that the City Council
of Iowa City will hold a public hearing on the 11th
day of March, 2008, at 7:00 p.m. in the Emma J.
Harvat Hall of the Iowa City City Hall, 410 E.
Washington Street, Iowa City, Iowa, or if said
meeting is cancelled, at the next meeting of the
City Council thereafter as posted by the City
Clerk; at which hearing the Council will consider
a Resolution approving a purchase agreement
with ITC Midwest LLC for Lots 2, 3, and 4 in
North Airport Development Subdivision-Part
Two.
Copies of the proposed resolution are on
file for public examination in the office of the City
Clerk, City Hall, Iowa City, Iowa. Persons wishing
to make their views known for Council
consideration are encouraged to appear at the
above-mentioned time and place.
MARIAN K. KARR, CITY CLERK
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®~~-~ E M O RA N D u M
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Date: March 6, 2008
To: City Council
From: Airport Commission
Re: Offer on Lots 2-4 and Outlots 2A-4A
The Airport Commission met on Thursday March 6, 2008, and voted to recommend to the City
Council, they accept the offer for Lots 2, 3, and 4, and outlots 2A, 3A, and 4A in the Aviation
Commerce Park.
Respectfully,
J nelle Rettig, Secretary
Iowa City Airport Commission
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Previously handed out to Council March 3 work session
CITY OF IOWA CITY
MEMORANDUM
Date: March 3, 2008
To: City Council
From: Dale Helling, Interim City Manager
Re: Purchase Offer for 6 lots in Aviation Commerce Park
The offer
ITC Midwest LLC has made an offer on more than half the property for sale in the city-owned Aviation
Commerce Park, off Highway One West, on Ruppert Road, contingent on rezoning from CC-2 to CI-1.
These parcels were zoned CI-1 until the land was rezoned after the Walmart offer in 2005.
The purchase offer of $1,610,000 million is for lots 2, 3 and 4 and associated outlots, 2A, 3A and 4A. The
offer for lots 2, 3 and 4 is $1,500,000, or $1.92 per square foot (psf) in the 17.98 acre parcel. The average
list price of the three lots was $2.58 psf. The list price is predicated on individual lot sales, and it is
common for projects requiring more than one lot that lead development in an area to offer less than list
price.
Comparably sized and located commercial/industrial properties for sale in the Corridor are selling for a
range between $0.88 psf and $2.23 psf depending on proximity to highways and airports, according to the
city's listing agents. Smaller lot sizes command higher prices psf.
The offer for the outlots is $0.509 psf, a rate consistent with lease rates for similar properties. The outlots
are valued considerably lower due to FAA building restrictions within their boundaries. The outlots may
only be used for parking and fenced storage areas.
The company
ITC Transmission owns afully-regulated, high-voltage system that transmits electricity to local electricity
distribution facilities from generating stations. The distribution facilities connected to the ITC Transmission
system will serve customers of MidAmerican Energy and Alliant Energy. The company plans to build a
100,000 square foot building and employ 30-40 people when fully staffed with an average wage of $25
per hour plus a full benefit package. Jobs will be comprised of administrative and technical positions. A
portion of the property will be used for fenced storage of utility poles and transformers and another portion
for parking trucks used in the installation and repair processes. The ITC grid development website notes
that their mission is to invest in, construct, operate and maintain electricity transmission system upgrades
in order to satisfy the energy needs of each local region.
Other attributes of this project
• There is a strong likelihood of supplier-related business to follow in the same area. We
understand there is a an electric cable company interested in located near ITC who is looking at
other lots in Aviation Commerce Park;
• The property has been on the market for nearly four years and goes back on the property tax
roles and begins to offer property tax relief for residents immediately; and
• The city is competing for this company without using other financial incentives or development
agreements.
Current status
ITC Midwest has already submitted an application for rezoning the property because they wish to proceed
immediately with project plans. The Airport Commission is meeting on March 6 when they will pass a
motion recommending that Council accept, reject, or counter the offer.
cc: Jeff Davidson, Director of Planning and Community Development
Kevin O'Malley, Director of Finance
.Bob Miklo, Senior Planner, Urban Planning
Wendy Ford, Economic Development Coordinator