The city of Des Moines Urban Design Review Board has recommended approval of 20 years of property tax rebates for Nelson Construction & Development’s Miesblock project at Seventh Street and Grand Avenue.

Miesblock is an estimated $66 million, 12-story mixed-use building that will combine first-floor retail and restaurant space, two additional floors of office space, all topped by upscale residential units and indoor and outdoor amenity space for all tenants. Principal Financial Group Inc. is building a parking ramp with commercial space directly west of Miesblock on the north side of Grand.Read more about the project here.

Earlier this year, the City Council approved a financial package made up of a $1 million forgivable predevelopment loan for architecture and engineering services, a grant equal to the land purchase price and a $2 million grant when the project is finished. The Urban Design Review Board recommended Tuesday that the City Council also approve tax increment financing rebates of 100 percent of the value of commercial improvements for 10 years and 80 percent for another 10 years. For the residential units, the package consists of TIF rebates of 100 percent in years 11 through 13, 90 percent in years 14 through 16, 80 percent in year 17 through 19 and 70 percent in the final year of the agreement.