Land Sold: Site Certification Does its Job
Friday, December 21, 2018
OTTUMWA – 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 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.