Hy-Vee to renew lease and fund new store project
Hy-Vee plans a five year lease renewal and immediate need for a new store. City leaders defend financing as urban renewal with expected costs if Hy-Vee leaves. Mayor Clancey cites blight and crime as risks while parks chief backs the package and other officials weigh the proposal.
MENTIONED IN THIS ARTICLE
Luther
Lee Clancey
Clancey
Dale Todd
Lyle Hanson
Public Safety
David Zahn
Don Thomas
City Council hears Hy-Vee stake in store site future
Public comments after Wednesday's meeting focused on Hy-Vee owning 20 percent of the site and its reluctance to sell to another grocer even if it leaves. Hy-Vee's Mitchell argued the mayor may be right that Hy-Vee today might not sell but noted talks to keep and invest in the First Avenue NE store continue.
MENTIONED IN THIS ARTICLE
Clancey
Hy-Vee
Mitchell
First Avenue NE
Hy-Vee Plans In First Avenue Site With TIF Financing
Hy-Vee proposes a 75 percent store investment share totaling 2.6 to 2.7 million dollars funded by the company with the city covering 25 percent or about 915000. The plan uses tax increment financing to recoup city costs over 20 years plus 397000 in stand alone store tax revenue and 517000 district wide. Site ownership hurdles include three other property owners and a 20 percent Hy-Vee parcel plus a 75 000 demolition bill and 301 000 exterior upgrades financed by the city. Mitchell notes the First Avenue site faces economic challenges and that the district surrounds downtown aiding future TIF funds.
MENTIONED IN THIS ARTICLE
Hy-Vee
Mitchell
First Avenue
Hy- Vee
Clinton
Windsor Heights
Webster City
Iowa
Budget Surplus Edge Fades as Drug Coverage Remains Unfunded
House Budget Committee member Rep. Ken Bentsen says there is no money for education reform and questions funding for Social Security and Medicare. The budget projects $190 billion for prescription drug coverage through 2011, while accounting shifts alter the balance between Social Security and non Social Security surpluses.
MENTIONED IN THIS ARTICLE
Ken Bentsen
Texas
House
Daniels
White House
Iowans defend tax cut in federal budget debate
Washington report shows Rep. Jim Nussle and Sen. Chuck Grassley defending the GOP budget and tax cuts. They say surplus projections were meant to be lower and note tax revenues at historic highs after the cuts. They criticize Democratic alternatives and point to returning $40 billion in overpayments to taxpayers.
MENTIONED IN THIS ARTICLE
News
Washington
Jim Nussle
House
Chuck Grassley
Senate
Finance Committee
Nussle
Mediacom expands hub staffing and service footprint in Iowa
Mediacom will staff hubs 24 7 and extend fiber from Cedar Rapids head end to Iowa City North Liberty Mount Vernon Anamosa West Branch Bell Plaine Maquoketa Cascade Sigourney Des Moines area gains regional HQ and new call center. rates may rise as programming costs constrain the company. Contact details for Assistant Financial Editor David DeWitte.
MENTIONED IN THIS ARTICLE
Iowa City
North Liberty
Cedar Rapids
Mount Vernon
Anamosa
West Branch
Bell Plaine
Londen
Maquoketa
Cascade
Sigourney
Mediacom
At&t
Des Moines
North Central
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MENTIONED IN THIS ARTICLE
Gazette
the Gazette
P.O. Box
Cedar Rapids
Iowa
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GazetteOnline.com
Rick Smith
Ricks
U.S
Ing
Michael Myers
Michaelm
Firstavechrysler
Ow.com
Gateway
Intel
Microsoft
Windows
Microsoft.com
Alo Ece
1St Avenue
Collins Rd
1St Ave
Gateway.com
Gateway Country
Gateway, Inc
Gateway Direct .P
Gateway.com L.P
Gateway Country Stores LLC
Essential
Pentium
Intel Corporation
United States
Microsoft Corporation
Hhev Gyades
Igi At
Commisso
David DeWitte
Davidd
Essaging
Hohn
JK US. Cellular
Johnson Ave
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