ARTICLE

Iowa City will pay to help company move downtown

Agreement with MetaCommunications also includes incentives for hiring over next five years

Developer Marc Moen's Park@201 building (center) on the pedestrian mall is shown on Friday, December, 6, 2013 in Iowa City, Iowa. (Adam Wesley/The Gazette)
Developer Marc Moen's Park@201 building (center) on the pedestrian mall is shown on Friday, December, 6, 2013 in Iowa City, Iowa. (Adam Wesley/The Gazette)

The Iowa City Council Tuesday night unanimously agreed to provide financial assistance and free parking to a technology company that wants to relocate downtown.

The city will give software developer MetaCommunications $58,000 to help the company finish building out office space at the Park@201 building under construction on the Pedestrian Mall.

The agreement also says that if MetaCommunications hires the equivalent of 20 full-time employees over the next three years, the city would cover the full $31,680 annual value of 33 parking permits for five years. The benefit would decrease 20 percent a year after that.

MetaCommunications is currently located on South Gilbert Street.