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Iowa Health – Des Moines plans to replace its existing Norwalk Family Physicians clinic with a larger facility that is expected to be completed by August.

Hubbell Realty Co. is the developer for the 9,500-square-foot building, which it plans to lease to Iowa Health. The clinic will be located across the street from the existing 8,500-square-foot facility, which Iowa Health opened in July 2000 at 800 Colonial Circle, Suite 200.

“The community is growing and the patient load is growing,” said Amy Varcoe, an Iowa Health spokeswoman. The existing clinic, which is currently staffed by four physicians, will add a fifth doctor in August when the new clinic opens, which should reduce waiting times for patients, she said. No additional amenities other than the increased space are planned at the new facility.

Hubbell Medical Office II LLC recently entered into an agreement with the city in which it will receive a three-year tax rebate through tax increment financing (TIF) funds, in lieu of the five-year property tax abatement the city normally offers to commercial developers. The arrangement was made at the request of Hubbell Realty to recoup a portion of its investment more quickly, said Chris Nosbisch, the city’s development director.

Under the agreement, Hubbell Realty will receive a rebate of 100 percent of the tax revenues collected by the city from the incremental value added to the property in the first three years, or $200,000, whichever occurs first. In exchange, Hubbell has agreed to a minimum assessment value on the building of $1.5 million.