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City Council to vote on changes to contract with G8 Development

City Council to vote on changes to contract with G8 Development

Posted: Mar 19, 2018 9:20 PM
Updated: Mar 19, 2018 11:04 PM

MASON CITY, Iowa- The River City Renaissance Project, which includes a museum, convention center, multipurpose arena, hotel and skywalk, is something many people like Renee Arens are eager to see happen in downtown Mason City.
“I do believe downtown needs a jumpstart somewhere,” Arens said.
While the project has been years in the making, one of the remaining issues is finding the funding for the project. Those with the city say it has been difficult for G8 to move forward because they still need to finish pre-construction projects before they can reach out to potential lenders for the funding to construct the project.
If they need it to get the project started forward, sure let’s do it.” Arens said. “We need to do something downtown and I’m all for change if we need it.”
So the city is looking to change the contract between the city of Mason City and G8 Development and give the required funding of $500 thousand up front rather than at the tail end of the pre-construction process.
“Well anything to get started I think would be good,” said Lori Fish of Mason City.
City staff say G8 Development would be responsible to reimburse the city for the funds if they are unable to complete the project.
“That seems agreeable to me,” said Arens I think the project should be completed if they’re going to start it.”
And many can agree, making sure the developers keep up with the deadlines is key to making this project come together.
“Everything seems to be moving farther and farther out on the outskirts of town and I’m all for doing something to bring more people downtown,” said Arens.
“It could bring more people to Mason City,” said Fish. “We have businesses closing and it would be nice to get something big started.”

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