Des Moines to acquire auto salvage yard in Southeast AgriBusiness Park
The Des Moines City Council has agreed to pay $720,000 for an auto salvage yard in a move that could improve the prospects of landing development projects in the city’s Southeast AgriBusiness Park. The voluntary acquisition resulted from Capitol Auto Parts Co. closing its operations at 3800 Vandalia Road. As part of the agreement, Capitol Auto Parts will pay to remove all of its personal property from the 13-acre site and undergo an environmental review. After closing, the city will demolish all site improvements and market the property for redevelopment. The purchase price, plus closing costs, will be paid out of the city’s general fund, which will be reimbursed by tax increment finance revenues from the area’s urban renewal district.