State grants money for convention center hotel, expansion of Urbandale firm

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The Iowa Economic Development Authority last week gave final approval, with a caveat, to a $36.5 million rebate of sales and hotel/motel tax revenues into a sprawling area in downtown Des Moines that will include a convention center hotel.

 

In addition, the IEDA approved $215,000 in direct financial assistance and tax benefits for BirdDogHR’s $3.3 million expansion in Urbandale. The cloud-based human resources company plans to relocate its headquarters to a new facility at Northwest Urbandale and Meredith drives, where it plans to create 71 additional jobs over three years at a qualifying wage of $25.52 per hour. It currently employs 45 people.

 

The city of Urbandale will match the state assistance with up to $65,000 from its Revolving Loan Fund for up to five years at zero percent interest. The building owner would have the option to apply for the city’s Northwest Market Center TIF rebate program, with potential value of the rebate estimated at $88,744.

 

The Iowa Convention and Entertainment Reinvestment District in Des Moines received approval for its plan to use the tax rebates to help with the financing of the Iowa Events Center Hotel, planned for Park Street and Fifth Avenue, as well as the historic rehabilitation of the Randolph Hotel and adjacent structures at the northwest corner of Fourth Street and Court Avenue, as well as the construction of a Hy-Vee Inc. grocery store and apartments at the southwest corner of Fourth and Court.

 

The IEDA voted to approve the rebates with the condition that it receive a report by Sept. 1 that provides information on the selection of a hotel operator and substantial completion of the financing package for the $101 million facility.