Land Sold: Site Certification Does its Job
Thursday, November 01, 2018
At its regular board of directors meeting October 25, OEDC accepted an offer from Alliant Energy to purchase 12.4 acres in the Helgerson Flats Industrial Site. The two lots, located in the northwest corner bordering Angle Rd. are currently owned by OEDC. A new substation is planned. “The whole purpose of site certification is to make sure land at Helgerson Flats is shovel-ready. Due diligence on the acreage is complete, so development concerns will not delay the sale. One of the best features of this location is that it is within city limits, and adjacent infrastructure is already in place” says Sharon Stroh, OEDC Executive Director.
The property, publicly marketed at $12,700 per acre, will generate $157,480 in revenue for OEDC. Because one of OEDC’s strategic priorities is to continue to acquire and prepare land for industrial or large commercial development, proceeds, will, in part, be used to identify and purchase additional land in the Greater Ottumwa area. “There are several options for OEDC to consider, including brownfield sites, but a firm decision has not been made” adds Stroh.
Scott Drzycimski, Alliant Energy’s Senior Manager of Economic Development & Community Relations has this to say, “We believe the new substation is a significant enhancement for Helgerson Flats, as well as for our existing customers in the area. It will provide the latest equipment to serve this part of the community for the next several decades, as well as providing an engine for further growth by meshing our electric capabilities, land availability, and the hard work of OEDC in bringing prospects into the area."
The remaining 70 acres of Helgerson Flats remains available, and prospects include those in the targeted areas of food & beverage processing, machinery manufacturing, automotive supply chain, and warehouse and distribution. Interested parties are advised to contact Stroh for more information, or visit www.ottumwadevelopment.org
The sale is expected to close in December.