City staff sets timeline for River City Renaissance Project

“It’s going to bring a lot of jobs and help the city move forward.”

Posted: Nov 13, 2017 8:00 PM
Updated: Nov 14, 2017 10:16 AM

MASON CITY, Iowa- Mason City city staff met Monday to come up with a timeline for the River City Renaissance Project. Interim City Manager Kevin Jacobson says both the city and the developers have a lot left to do before they start construction. That's something many are excited to see.

“It’s going to bring a lot of jobs and help the city move forward,” says Mason City resident Erick Nganyange.

“I’ll probably just be a customer,” says Annabella Christianson.

Gatehouse Capital was not able to secure a senior lender that would fund at least 60 percent of the project as well as a brand for a hotel. They say that is a difficult task to handle with a public vote, but now that the project passed people want to see the developers start securing the funds.

The city still needs to approve the development agreement as well as bring the project before the state of Iowa Economic Development Authority to have the project reassessed to secure state funds.

“I want to learn what’s going on right now to keep it moving forward,” says Nganyange.

“It would be good to know if there was a good lender beforehand,” says Christianson.

City leaders say they will release more about the development agreement Tuesday of next week.

Article Comments

Mason City
Overcast
43° wxIcon
Hi: 53° Lo: 38°
Feels Like: 36°
Albert Lea
Overcast
43° wxIcon
Hi: 52° Lo: 37°
Feels Like: 38°
Austin
Overcast
45° wxIcon
Hi: 54° Lo: 40°
Feels Like: 38°
Charles City
Overcast
43° wxIcon
Hi: 56° Lo: 39°
Feels Like: 36°
Rochester
Broken Clouds
39° wxIcon
Hi: 49° Lo: 38°
Feels Like: 31°
Warmer weather is set to return this week
KIMT Radar
KIMT Eye in the sky

Latest Video

Image

MN AP football poll

Image

Mayo falls to Lakeville South in Section semis

Image

Figuring out Rochester's city budget

Image

Parking lot proposal

Image

Kavars trial: Day One

Image

Chris' PM Weather Forecast

Image

Affordable housing preservation program

Image

cold weather rule

Image

Highway speed changes

Image

Golden Apple: Julie Lawler

Community Events