116 3rd St SE
Cedar Rapids, Iowa 52401
Iowa City will pay to help company move downtown
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.
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)
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