The Younkers project, by many other words
BPC Staff Apr 30, 2015 | 8:57 pm
1 min read time
194 wordsAll Latest News, Government Policy and LawThe Iowa House passed House File 656 by a vote of 84-9 today. The bill creates a chemical production tax credit and modifies several other incentive programs, including the workforce housing a brownfield/grayfield tax credits. The bill also extends the time needed to complete work in downtown Des Moines on the former Younkers building, which is now called the Wilkins Building. You won’t find those names in the legislation, though. Instead, here’s what the bill has to say: “Notwithstanding any other provision of law to the contrary, the economic development authority may extend the project completion date for a project awarded tax incentives under both the redevelopment tax credit program … and the housing enterprise zone tax incentives program … if the property that is the subject of the project suffered a catastrophic fire during the 2014 calendar year.” The Younkers fire occurred March 29, 2014. The east side of the building was destroyed, and Alexander Co. of Madison, Wisc., is renovating the heavily damaged west side into 29 market-rate and 31 affordable apartments, 14,000 square feet of retail space, and a restored Younkers Tea Room in a project valued at $18.7 million.