Windsor Heights is moving one step closer to redeveloping Hickman Ave. At their Monday meeting, City Council members voted to hold a public hearing on March 3 to consider a loan agreement and issuance of general obligation capital notes not to exceed $5 million for the Hickman Road redevelopment project.

The bonds would give the city the capital needed to acquire the former Furniture by Consignment store at 6322 Hickman, which is listed for sale at $1.35 million, as well as a vacant lot to the west, the former site of a mobile home park. Or, the money could be used for financial incentives to developers undertaking new projects in the Hickman corridor from 63rd Street nearly to 68th Street. The bonds will be repaid with tax increment financing funds.

“The purpose of the bonding is we want to have money in hand, ready to act, when they make a determination as to whether to (acquire land) or work with a developer,” said City Administrator Marketa Oliver.

The corridor is zoned for mixed use, and redevelopment would likely include light commercial along Hickman and single-family residential farther back from the street, Oliver said. The city has been considering the project for a couple of years, doing background research such as traffic counts, and now it is moving into a more public phase, Oliver said.

Last week, the Iowa Transportation Commission awarded a nearly $1.4 million grant to Windsor Heights for intersection improvements on Hickman Road. The grant will cover much of the $1.8 million project, which includes adding a right-hand turning lane on Hickman at 63rd Street and a traffic light at Hickman and Westover Boulevard. However, funding won’t be available to begin construction until October.