Referendum scheduled for Indianola wellness center
Indianola voters will go to the polls on March 1 to decide whether the city should issue up to $12.5 million in general obligation bonds to fund a community wellness center.
The referendum must be approved by at least 60 percent of those voting for the measure to pass. The city plans to use revenue from the tax increment finance (TIF) district in which the center would be located to retire the 20-year bonds.
The YMCA of Greater Des Moines and Summercrest Hills Development Corp. plan to jointly develop the 55,000-square-foot fitness facility, which would be located within the 160-acre Summercrest Hills development on Indianola’s northeast side. This spring, Dubuque-based retailer Theisen’s Inc. plans to begin construction of a home-farm-auto store, the first retail business to be located at Summercrest Hills.
Indianola City Manager Tim Zisoff said Summercrest Hills Development Corp. has committed that the development will generate a minimum of $15 million in new taxable value. In addition to TIF revenue, the city is also seeking a $2.5 million Vision Iowa grant. It would also receive lease payments from the Indianola school district, Simpson College and the YMCA of Greater Des Moines for use of the city-owned facility, Zisoff said.