Coralville acquiring more land for indoor rain forest project

Zack Kucharski

The Gazette

November 6, 2004



CORALVILLE -- City officials here are expected to move forward with the final land acquisitions for the Environmental Project and Marriott Hotel & Conference Center.

At its 7 p.m. meeting Tuesday at City Hall, the City Council expects to purchase about .45 acres, at 215 E. 11th St., from Grysson Oil Co. for $410,000 and about .67 acres from J.L. Watts Co. for $700,000.

The parcels have combined valuations of $340,510, according to Johnson County Assessor's Office records. The city's purchase prices also include relocation costs.

The city also hopes to obtain a purchase price for nine remaining parcels following condemnation proceedings Wednesday involving Jere and Ruth Wissink.

The combined assessed valuations of the more than 5.68 acres is about $1.7 million, according to Johnson County Assessor's Office records.

Much of the land is being purchased for the $180 million Environmental Project, which includes a five-acre indoor rain forest.

That project will be built adjacent to Interstate 80 just east of First Avenue in Coralville.

The city is using portions of a $15 million loan to cover the remaining land purchases associated with the projects, city officials have said. The additional debt will be repaid using future revenues from tax increment financing districts, including Coral Ridge Mall.

Also Tuesday, City Council members will hold a public hearing on the plans for the Marriott Hotel & Conference Center and also are expected to approve plans for the facility.

Bids on the city-financed project estimated at $63.5 million are being accepted until Nov. 19.

The plans call for 250 rooms and more than 60,000 square feet of meeting and exhibition space.