x
Breaking News
More () »

State kicks in $10.75 million toward Davenport’s River 80 development

The Iowa Economic Development Authority approved a $10.75-million grant to help fund the River 80 project and improvements along Davenport’s riverfront.

The Iowa Economic Development Authority approved a $10.75-million grant to help fund the River 80 project and improvements along Davenport’s riverfront.

The River 80 project encompasses development at the southwest corner of the interchange of Interstate 74 and Interstate 80. A new sports tourism complex, retail, hotels and restaurants are all part of the plan for the property adjacent to a new casino.  Crews broke ground on the casino project Thursday, June 4.

“The project would annually provide $1.8 million in tax revenue to the City, $1 million to the Davenport Community School District and $287,000 to Scott County. The tournament center would be operated by a non-profit entity,” said a report from the city’s information site Davenport Today. River 80 was forecast to create about 1,000 jobs.

In all, River 80 development was expected to cost nearly $74 million.  Davenport leaders asked for $21.75 million in state help for the project, and they got the actual grant amount when they visited Des Moines on Friday, June 19, 2015.  The city has until March 1, 2016, to finalize the grant deal.

“Under the proposal, $5 million in hotel tax revenue from the reinvestment district would be used to develop the riverfront under the RiverVision plan,” the report said.

The city made its second pitch to the state for the grant funding in May 2015, including a video presentation detailing plans for the River 80 project, and you can watch that in the player below.

https://youtu.be/e6HcuiD0zkI

Before You Leave, Check This Out