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Mason City Renaissance Project put on indefinite hold by state board

Des Moines

DES MOINES – The state board that holds the key to millions of dollars in potential tax kickbacks to the City of Mason City has put the Renaissance Project on indefinite hold.

An Iowa Economic Development Authority official told NIT Friday that “The board voted to defer this project today until further notice. Once IEDA and the IEDA board has the needed documentation, we will bring it to the board for discussion/action.”

City officials, working with hotel developer G8, were to deliver a signed agreement for a hotel as part of the Renaissance Project. That was accomplished. Then, G8 was to drop a lawsuit against the City of Mason City and Robin Anderson for meddling in the project details. That was also done. Lastly, however, no formal announcement and proof of private investment of at least $10 million has been received by the state from G8, although word is, G8 will have the necessary financing to move ahead in the project. The state must have proof, hoover, of this private investment into the project in order for the Economic Development Board to approve Mason City’s application in the Reinvestment District Program. Mason City was earlier “pre-approved” for up to $7 million in this program, pending many positive developments, some that have yet to be fulfilled. State tax dollars collected in a small area of the downtown (a Reinvestment District cannot exceed 25 acres in size) would be collected over 20 years and sent to Des Moines, which then kicks those tax dollars back to the City. The hotel and other new developments included in this small downtown Reinvestment District must perform well (i.e., collect plenty of taxes) in order for the City to ever reap its full “award” from the state. Contrary to mis-information propagated to the the public, there is no “lump sum” check for millions of dollars for the City from the state.

Is Robin Anderson’s
alleged meddling
ruining the
Renaissance?

NIT has received word that the IEDA Board likely has gotten wind of vicious in-fighting and backstabbing between City elected officials and certain citizens and personalities who have injected themselves into the on-going soap opera that this project has become. They continue to battle over a hotel developer for the Renaissance Project, as millions of dollars in construction proceeds are at stake. G8 would use Henkel Construction of Mason City to build a hotel, while the currently-ousted Gatehouse Mason City, LLC, had chosen Dean Snyder Construction of Clear Lake to build a hotel. The Gatehouse proposal also favors a multi-million dollar re-hab of the Music Man Square along with a skywalk; NIT is told G8 is not so favorable toward that end of the project.

Just yesterday, NIT reported that a city councilman, Joshua Masson, was worried that “the sharks are circling” and the Renaissance Project could be in trouble.  Today’s action by the IEDA Board more or less confirms: Mason City’s so-called “leaders” need to get their act together, and fast, or this project and all the public’s treasure that has been spent so far to get to this point will all go to waste.

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