Cytown Update

Remo Gaggi

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Nothing mindblowingly impressive on Golden Rods portfolio on their website but news is good news. Still disappointed that McFarland Clinic will be the anchor tenant for this thing (and in the prime spot for football game days....).
That clinic will be swamped every other year when Hok fans show up. They will have to set up some emergency detox areas to treat those heathens.
 

Die4Cy

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I haven't heard any of the arguments but I'm guessing CyTown will wind up paying property tax. Pollard is probably going to go off on the city council again though, like he did in 2020 when reminding them that ISU had been subsidizing ticket prices for events there when they declined helping with the repairs at the Iowa State Center.

 

Jer

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I haven't heard any of the arguments but I'm guessing CyTown will wind up paying property tax. Pollard is probably going to go off on the city council again though, like he did in 2020 when reminding them that ISU had been subsidizing ticket prices for events there when they declined helping with the repairs at the Iowa State Center.


It's basically commercial real estate, it should have to pay taxes.

On a side tangent... SOOOOO many cities and states give out tax abatement for sometimes 10 years to entice companies to build/come in. While I understand it's to bring jobs and infrastructure, it also continues to kill major revenue streams that could go back into the community, roads, schools, etc.
 
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Die4Cy

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It's a little amusing that Cytown only exists because Ames declined to help fund renovations at it's performing arts center and this was a way to get it done. It's still a big risk that it will generate the kind of money that will be needed. But if the thing is ruled some kind of a special use district of the university, it isn't out of the question that it may not pay property taxes when it's all said and done, even if the consensus is that they should.
 

Ms3r4ISU

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It's a little amusing that Cytown only exists because Ames declined to help fund renovations at it's performing arts center and this was a way to get it done. It's still a big risk that it will generate the kind of money that will be needed. But if the thing is ruled some kind of a special use district of the university, it isn't out of the question that it may not pay property taxes when it's all said and done, even if the consensus is that they should.
Not sure what you mean by the bolded. CY Stephens, Fisher Theater, Scheman Building and Hilton are the "Iowa State Center" and belong to ISU.
 
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Die4Cy

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Not sure what you mean by the bolded. CY Stephens, Fisher Theater, Scheman Building and Hilton are the "Iowa State Center" and belong to ISU.
IIRC, when the university first announced the needs at the ISC they asked Ames for assistance with the part of the cost of the renovations to improve accessibility. The city said "that's your problem." Which is fine, IMO. But when the university transferred the properties to athletics and stopped subsidizing the cost of tickets to events there, the community had a cow, which led to the exchange from Pollard above.

I believe CyTown should pay property tax, I just don't think it's an open and shut case that it works out that way given how some of stuff has been ruled previously.
 

CascadeClone

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It's a little amusing that Cytown only exists because Ames declined to help fund renovations at it's performing arts center and this was a way to get it done. It's still a big risk that it will generate the kind of money that will be needed. But if the thing is ruled some kind of a special use district of the university, it isn't out of the question that it may not pay property taxes when it's all said and done, even if the consensus is that they should.
This.

The City of Ames NEVER wants to put a dime into anything ISU, and has often been hostile towards ISU projects due to NIMBY and local business' fear of competition. But then ISU goes and does it on their own, then they want to tax it and get benefits from it. Maybe the city council should re-read the story of the Little Red Hen.

(all that said, it is a little janky that they can basically build a mall and not pay property tax)
 

cycloneG

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This.

The City of Ames NEVER wants to put a dime into anything ISU, and has often been hostile towards ISU projects due to NIMBY and local business' fear of competition. But then ISU goes and does it on their own, then they want to tax it and get benefits from it. Maybe the city council should re-read the story of the Little Red Hen.

(all that said, it is a little janky that they can basically build a mall and not pay property tax)

The city of Ames help pay for the feasibility study for CyTown.

 

CascadeClone

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The city of Ames help pay for the feasibility study for CyTown.

Real estate company Cushman and Wakefield will conduct the $300,000 study, to be paid for by the Iowa State University Athletics Department and Ames Convention and Visitors Bureau.

Good info, I didn't know that. But I was referring more to the city council / government (maybe the ACVB funded by the city gvmt, honestly don't know). Would be curious how those costs were split as well.

It's good the ACVB was involved, the whole plan relies on some amount of local businesses to lease space.
 

cycloneG

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Real estate company Cushman and Wakefield will conduct the $300,000 study, to be paid for by the Iowa State University Athletics Department and Ames Convention and Visitors Bureau.

Good info, I didn't know that. But I was referring more to the city council / government (maybe the ACVB funded by the city gvmt, honestly don't know). Would be curious how those costs were split as well.

It's good the ACVB was involved, the whole plan relies on some amount of local businesses to lease space.

ACVB is funded through the local hotel/motel tax.
 
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Ms3r4ISU

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IIRC, when the university first announced the needs at the ISC they asked Ames for assistance with the part of the cost of the renovations to improve accessibility. The city said "that's your problem." Which is fine, IMO. But when the university transferred the properties to athletics and stopped subsidizing the cost of tickets to events there, the community had a cow, which led to the exchange from Pollard above.

I believe CyTown should pay property tax, I just don't think it's an open and shut case that it works out that way given how some of stuff has been ruled previously.
Thanks, I didn't remember all that. I definitely don't remember about the university or whoever stopping subsidizing tickets at the center ...?
 

Haverhill

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Not sure what you mean by the bolded. CY Stephens, Fisher Theater, Scheman Building and Hilton are the "Iowa State Center" and belong to ISU.
Ames residents voted down the convention center expansion on the Scheman Building.

Also, cities like Lincoln partnered with their universities to get new amenities built, like Pinnacle Bank Arena. No such collaboration can be remotely considered in Ames for whatever reason, whether it be political will or just overall stubbornness of residents.

Everything here just seems to be a huge culture of "no."
 

SCNCY

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Ames residents voted down the convention center expansion on the Scheman Building.

Also, cities like Lincoln partnered with their universities to get new amenities built, like Pinnacle Bank Arena. No such collaboration can be remotely considered in Ames for whatever reason, whether it be political will or just overall stubbornness of residents.

Everything here just seems to be a huge culture of "no."

They want to live in a small community like Boone or Story City, but have all the amenities that Ames offers. Unfortunately, that doesn't really work because if you want more amenities, you need to have the population and tax base to support it, which means growth.
 

Haverhill

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They want to live in a small community like Boone or Story City, but have all the amenities that Ames offers. Unfortunately, that doesn't really work because if you want more amenities, you need to have the population and tax base to support it, which means growth.
Bingo, especially growth and development within our existing borders to increase the tax base without having to build exorbitant amounts of new services like sewer, water, etc., while adding amenities that "place make" places people want to be.
 

cycloneG

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Ames residents voted down the convention center expansion on the Scheman Building.

Also, cities like Lincoln partnered with their universities to get new amenities built, like Pinnacle Bank Arena. No such collaboration can be remotely considered in Ames for whatever reason, whether it be political will or just overall stubbornness of residents.

Everything here just seems to be a huge culture of "no."

A new conference center is set to start construction this year.

 

Haverhill

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A new conference center is set to start construction this year.

Yeah, I'm pretty stoked about that project, however expanding Scheman would have been a tremendously valuable project for both ISU and Ames.