Coralville approves $12 million agreement for Iowa Arena project
BPC Staff Sep 15, 2016 | 4:43 pm
<1 min read time
86 wordsAll Latest News, Economic Development, Statewide NewsCedar Rapids Gazette: The agreement between Coralville and the state for a $12 million boost to the Iowa Arena project is official. The Iowa Economic Development Authority approved the deal this summer, and the City Council voted 4-0 this week to approve the grant agreement. The agreement allows the city to collect $12 million in sales and hotel taxes in the Iowa River Landing Reinvestment District over the next 20 years to help pay for the project. The arena project is expected to cost $70 million.
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