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Tax Increment Financing (TIF) likely to face legislative scrutiny

on Fri, 01/06/2012 - 01:21   by Editor

A tax increment financing (TIF) deal to entice a Von Maur department store to move from Iowa City to Coralville appears to have triggered renewed efforts to reform state TIF laws.

One developer group, the Professional Developers of Iowa (PDI), is warning members about "a strong bipartisan effort to curtail TIF" in the upcoming legislative session, blaming the recent Coralville incentive for the renewed attention.

QC Times paid circulation falls below 60,000, off 15% over last five years

on Thu, 12/29/2011 - 22:38   by Editor

The paid circulation of the Sunday Quad City Times fell below 60,000 in 2011, a 15 percent decline from five years ago.

According to figures from the Lee Enterprise, Inc. 10K (annual report) filings, paid circulation of the Sunday Quad City Times has fallen from 68,562 in 2007 to 59,482 in 2011. Ten years ago, the Sunday paper's circulation was just above 71,000.

MidAmerican pays $44,000 for 'public perception' assessment as part of nuclear power feasibility study

on Wed, 12/21/2011 - 21:17   by Editor

MidAmerican Energy paid $44,000 for "public perception" research as part of its 3-year, $15-million study on the feasibility of building a nuclear power plant in Iowa.

The assessment bill from Des Moines advertising/public relations firm Flynn Wright, Inc. was among the $2.3 million in expenses MidAmerican Energy charged to Iowa customers in the first year of the feasibility study.

Davenport, Bettendorf taking steps to address sewage plant overflows

on Wed, 12/14/2011 - 22:43   by Editor

Davenport recently approved a $1.3-million engineering contract to plan sewage system improvements aimed at alleviating overcapacity at its treatment plant and the discharge of partially treated sewage into the Mississippi River.

Meanwhile, Bettendorf -- one-quarter owner of the Davenport treatment plant -- is eyeing a four-year 49 percent overall sewer rate hike to fund its share of the plant upgrade and pay for a new sewer interceptor and lift-station for future development of the I-80/Middle Road corridor.

Muscatine citizens group wants IDNR head recused on GPC issues

on Tue, 12/13/2011 - 23:29   by Editor

A Muscatine citizens group has asked Gov. Terry Branstad to recuse Iowa Department of Natural Resources (IDNR) Director Roger Lande from handling any issues related to Grain Processing Corporation (GPC).

The group, Clean Air Muscatine (CLAM), believes Lande has a conflict of interest because he was a partner in a Muscatine law firm which represented GPC prior to being named IDNR director in 2010.

Lee Enterprises files for voluntary bankruptcy, seeks to finalize debt refinancing deal

on Tue, 12/13/2011 - 23:00   by Editor

As it announced a week ago, Lee Enterprises -- owner of the Quad City Times and Muscatine Journal -- filed Monday (12/12) for voluntary Chapter 11 bankruptcy protection in order to complete the refinancing of its nearly $1 billion debt.

The company said last week it would file the "prepackaged" bankruptcy after failing to obtain the consent of 6 percent of its lenders to the refinancing deal.

New I-74 bridge/corridor work could reach $1.4 billion

on Sat, 12/10/2011 - 01:36   by Editor

The pricetag for the new Interstate 74 bridge and corridor improvements may escalate to $1.4 billion -- more than double the projected cost in 2004 -- before the work is completed.

During the presentation to the Bettendorf City Council last week, Iowa Department of Transportation (IDOT) officials said the overall bridge/corridor work currently is estimated at $767 million, but by 2015 the cost is expected to increase to $1 billion.

Adding in inflation and a contingency amount for unanticipated cost increases between 2015 and when the work is actually completed, the total price for the bridge and highway upgrades could reach $1.4 billion, the IDOT said.

CLICK HERE to view the Iowa Department of Transportation slideshow presentation to Bettendorf City Council December 6, 2011.

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