IOWA CITY, Iowa (AP) — The City Council in Iowa City has approved an agreement with a developer for a $35 million, 7-story downtown project that will preserve a historic church.
The Iowa City Press-Citizen (http://icp-c.com/2pC7du0 ) reports the City Council took the final steps Tuesday night to approve the development agreement with developer Jesse Allen, which includes providing tax increment financing to support the $35.1 million project.
The development, known as Augusta Place, will be built on a city-owned parking lot north of City Hall and the land around the Universalist Unitarian Church. It’ll include a two-story parking ramp with a terrace, 26 two-story townhomes and nearly 100 apartments.
Mayor Jim Throgmorton says the project was nearly 18 months in the making and will be an asset to the city.
