Cedar Rapids medical district gets a name

Even before it's officially established, the Cedar Rapids Medical District has a new identity: MedQUARTER Regional Medical District.

The name and logo were unveiled Wednesday night to about 30 property owners of the proposed district near downtown Cedar Rapids.

“This is a very bold and unique medical community and the name needs to reflect that,” said Dave Morton of J.W. Morton & Associates.

The Cedar Rapids-based advertising agency was hired by the medical district steering committee to develop a branding and message strategy, along with way-finding and signs for the district.

Morton said the name is distinctive and memorable. A copyright is in progress.

Medical District coordinator, John Helbling, also revealed the potential tax levy for properties that fall within the district, stretching from St. Luke's Hospital to Mercy Medical Center.

Helbling said about 115 property owners have 240 parcels in those 54 square blocks.

The assessed value, including the hospitals and the forthcoming Physicians' Clinic of Iowa medical mall, have an assessed value of $162 million, compared to $102 million in the Downtown District's 58 blocks.

Even so, the potential levy for the new medical district – $3.46 per $1,000 assessed value – is higher than downtown's levy of $2.75.

The resulting $560,906 in taxes would be used for operations and maintenance, marketing materials, security, way-finding and public art.

Commercial and industrial properties that fall within the district would pay the additional tax under a self-supporting municipal improvement district, or SSMID. Residential properties are exempt, but rentals are not.

Helbling said churches and other non-profits will be asked to pay the additional tax.  Those entities account for about $12 milion of the district's assessed value.

Hospitals are exempt, but Mercy and St. Luke's have agreed to pay the tax, he said.

Some property owners expressed concern about having to pass along the expense to customers or renters.

Helbling said a petition drive will soon begin to establish the SSMID.

State law requires 25 percent of property owners to sign the petition, but Helbling hopes to get at least 50 percent.

The signatures could go to the City Council by the end of January and barring “any major hiccups,” the SSMID could be established by next spring, he said.

Organizers had hoped to be at that point by now, but Helbling said PCI's street closure issue took precedence.

The City Council last month agreed to partially close Second Avenue SE for the medical mall.