Keokuk, IA – Keokuk Downtown Properties plans to build about a half-dozen, high-end apartments within the former Eagles building.
The organization has roughly one year to complete the project to take advantage of a $610,000 state grant.
The city's finance committee is recommending that Keokuk get involved in the renovations.
The panel says the city should waive up to of the fee for a building permit.
Community Development Director Pam Broomhall says the fee could be $20,000 for the roughly $2,000,000 project. She says she would need more information, though, to make a more solid estimate.
The panel is also open to the idea of selling or leasing some city property to Keokuk Downtown Properties. The organization wants to build private garages for the eventual residents of the Eagles building.
Finance Committee Chairman Roger Bryant says it is important for this project to move forward. He says it could lead to renovations to other run-down properties.
Bryant says waiving $10,000 or so in building permit fees could help the city avoid a $40,000-$50,000 bill for demolition.
The project already qualifies for a property tax abatement through the city.
The full city council will decide on the final amount of the building permit at a future meeting.
South Side Boat Club
Meanwhile, the finance committee is not recommending the city grant a property tax abatement to the South Side Boat Club.
The organization would like the taxes for its new headquarters along the Mississippi River to be waived.
The committee says the group should have made the request during construction, not when the project was completed.
The panel also worried that similar organizations could come and make similar requests if the city approved the abatement for the South Side Boat Club.