Mason City gets a deadline on River City Renaissance funding

Must prove private financing before getting state assistance.

Posted: Aug 17, 2018 4:07 PM
Updated: Aug 17, 2018 5:39 PM

MASON CITY, Iowa – Mason City and G8 Development has until September 17 to satisfy the Iowa Economic Development Authority board that funding for the River City Renaissance project is secure…or else.

The IEDA Board met with Mason City officials Friday about the project and told them the city must provide a signed copy of an acceptable financing commitment or copy of a written notice of default on the part of G8 Development.

The developer and the city announced in July that funding for the multi-million dollar project but state officials say they have not received the proper paperwork confirming that and must have those documents before approving any state funding for the project.

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