RFQ Deadline For Johnston Town Center Extended
This extension is partially related to action in the Iowa legislature regarding the authority of cities to develop projects using a lease purchase financing mechanism. Legislation awaiting the Governor’s signature would clarify the authority to use this method for projects such as the Town Center. If enacted, the City of Johnston’s Town Center project and the proposed Lease-Purchase arrangement for a City Hall could proceed. The City may also simply wished to provide developers with more time to respond. Developers are encouraged to take advantage of the extension for preparing a response to the RFQ.
Land Acquisition Update: The City of Johnston has acquired or received signed purchase agreements for all properties within the 18.5-acre Town Center area apart from 5707 & 5645 NW 62nd Ave. and 5630, 5626 and 5650 NW 63rd PL.
Lease-Purchase Note: With the lease-purchase financing model the developer’s financial commitment for construction of a new City Hall would conclude upon satisfactory completion of the building. The developer would not be required to retain ownership.
For more information contact the City of Johnston Economic Development Department at 515-727-7774 or email Adam Plagge at email@example.com.