CITY IMPROVEMENTS: DM Applying For State Aid For New Projects

The Des Moines City Council will submit an application on Monday for state aid to help make a series of big downtown projects a reality.

The city wants to take advantage of the Iowa Reinvestment District Act passed by the legislature last year.  The act allows cities to keep and reinvest state tax dollars generated by new hotels and other ventures.

Des Moines wants to take advantage of the act to help pay for a new hotel that would connect to the Iowa Events Center.   The $130-million hotel would include 450 rooms, a restaurant and new skywalk corridors.

City officials said they hope to use the money to cover some of the costs of the new downtown Hy-Vee.  The council approved the plans for the grocery last week along with a major renovation of the Randolph Hotel.

In all, the city wants $34-million.

The Iowa Economic Development Authority will decide if the city will get the money by the end of June.

Filed in: News


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