The Iowa Economic Development Authority will consider a request today from a Waukee business for tax incentives to expand its freight-handling operations.
Express Logistics Inc. seeks a $65,000 forgivable loan and a $65,000 five-year loan at 0 percent interest for a nearly $1.2 million plan to purchase and remodel buildings and to construct a storm shelter.
Other items of interest in Greater Des Moines include a request from real estate broker and developer Rich Eychaner to extend the completion date of his $9 million renovation of the Green Foundry property at Southwest Third Street and Martin Luther King Jr. Parkway for one year.
The development authority awarded $500,000 in brownfield development tax credits to Eychaner's Green Ltd. LC in October 2011 on the condition that the project be completed in 30 months.
Eychaner plans a suburban-style shopping center in a 22,000-square-foot building on the south end of the property. A second phase includes renovation of the towers on the north and south ends of the property fronting Southwest Third into retail spaces, offices and restaurants. Read more at BusinessRecord.com
The development authority board also will consider rules for implementing changes to development incentive programs for the construction new housing and rehabilitation of older properties for housing. The program extends the ability to acquire tax credit funding to all 99 counties compared with a program it replaced that was available in 45 counties.