The Des Moines City Council has the preliminary terms of a development agreement under which Storey-Kenworthy Co. would build a 60,000-square-foot, high-cube warehouse on what is now city-owned land in the Central Place Industrial Park that is north of East University Avenue and east of the Des Moines River. Storey-Kenworthy is working with developer Todd Mendenhall on the $3.9 million project. The company plans to consolidate warehouse operations in the new building, which adjacent to its corporate headquarters and showroom at 1333 Ohio St. The city will sell the land for $210,000 and return the proceeds to the developers in the form of a forgivable loan. The city also will provide a $200,000 economic development grant and match up to $25,000 for any possible environmental remediation. The majority of the city’s incentive package is related to the expense of shoring up the foundation for the warehouse, possibly with the use of geopiers, because of soil that was made relatively unstable because of the presence of old construction and demolition debris.