State board to discuss reinvestment funds for five Iowa communities

IOWA CITY - State officials hope to decide Friday how much funding will be allocated to the five Iowa communities in the running for community reinvestment funds.

The Iowa Economic Development Authority board meets today to discuss the combined $65 million being sought by officials in Coralville, Davenport, Grinnell, Mason City and Sioux City for proposed projects in their respective cities.

However, only about $41 million in state funding - made possible through the Iowa Economic Development Authority's state-funded Reinvestment District program - is available, meaning some, if not all, cities will receive less money than they requested.

Coralville is seeking $12 million to help create a 7,000-seat arena with an attached sports performance center.

Officials in Davenport have requested $21.8 million for an outdoor tournament center, wave simulator and hotels.

In Grinnell, $8 million is sought for a hotel and convention center, plus enhancements to Grinnell College and the downtown area.

Mason City officials are seeking $9.8 million for a multipurpose arena, performing arts pavilion, hotel and downtown parking garage.

in Sioux City, officials are after $13.9 million for an agriculture and expo learning center, new convention center hotel and downtown lofts.