Kum & Go LC is seeking $6.7 million in investment tax credits and $1.9 million in sales tax rebates for its proposed headquarters on Grand Avenue between 14th and 15th streets in the Western Gateway. The Des Moines City Council tonight will be asked to approve the request so it can be forwarded to the city's Enterprise Zone Commission before that body is disbanded at the end of the month. Kum & Go, which filed the request under the name of its parent, Krause Holdings Inc., also seeks $13.4 million in tax increment financing for the project, which has a projected land acquisition cost of $20 million and total project cost of $92 million.
The council also will consider $1.5 million in investment tax credits and $188,713 in sales tax rebates for three Hubbell Realty Co. projects that will add 174 housing units in the city. The award more than likely would be the last considered under a state incentive program that expires June 30 and will be replaced by a new law that has drawn mixed reviews from developers. The three Hubbell projects are phase two of Cityville on 9th, which carries a $13 million price tag for 117 units at 510 S.W. Ninth St.; Artisan Row, a $7.3 million project to develop 27 for-sale condominiums in the Western Gateway; and Broadway Heights III, a $2.8 million, 30-unit multifamily development at 4216 E. 50th St.