116 3rd St SE
Cedar Rapids, Iowa 52401
Emerald Knights favored again for fire station
CEDAR RAPIDS - It looks like the Central Fire Station will be built where the City Council originally said it would - on the block commonly referred to as the Emerald Knights site.
The City Council is slated to discuss and vote today on the purchase of the block for the new fire station, at a total purchase price of $3.23 million. The site, between First and Second avenues SE and Seventh and Eighth streets SE, is named for a former tenant, the Emerald Knights Drum & Bugle Corps.
The total valuation of the block, set by the City Assessor's Office for tax purposes, is $958,694. In 2010, before some recent demolition on the property, the assessor's valuation was $1.37 million.
In a memorandum to the council, Joe O'Hern, the city's flood recovery and reinvestment director, notes that the real estate contracts are contingent on funding approval from the Federal Emergency Management Agency. Even so, O'Hern said the city expects to be able to close on the properties later this month.
The council will vote on three transactions. The city proposes:
1. To pay Bob Himes' Bob's Wholesale Cars Inc. $709,000 for his property at 725 First Ave. SE. The current valuation is $273,966. The Assessor's Office reports Himes paid $265,000 for the property in 2006.
2. To pay Zydeco Investments LLC $1,008,000 for property at 705 First Ave. SE and a vacant lot next to it. Current valuation is $367,208. The company paid $440,000 for the property in 2006.
3. To pay Lagniappe Investments LLC $1,512,000 for now-vacant land at 706 and 712 Second Ave. SE. Current valuation is $317,520, though the value had been $733,426 before demolitions. The assessor reports the company paid $820,000 for the property in 2006.
In December, the city's project manager, Ryan Companies US Inc., estimated the total purchase cost of the Emerald Knights block at $3.032 million.
In part, the council picked this block because it was the cheapest by almost $900,000 of three prospects recommended by a selection team. The other two were the Taco Bell and History Center locations on First Avenue.
The Emerald Knights deal has not been without complications, which included the St. Martin Land Co. advertising its property for sale to the private sector, City Council member Don Karr suggesting the station stay on the city's west side and FEMA questioning demolition without a review. Those matters have been resolved.
The new Central Fire Station will replace the one at 222 Third St. NW that was damaged in the 2008 flood. The city expects that FEMA disaster funds and a state I-JOBS grant will pay all or most of the cost.
Related articles
More explanation, more participation
Cedar Rapids council again directs LOST funds to library project
The Cedar Rapids City Council is expected to discuss and vote on the purchase of the lot formerly belonging to Emerald Knights on the 700 block of First Avenue. (David Scrivner/SourceMedia Group News)
Daily Newsletters