Deery Brothers is planning on developing a car dealership and additional ground for a commercial development at the corner of 10th Street and Hickman Road in Waukee. At the Waukee City Council Meeting on Tuesday, Feb. 5, the council approved a development agreement with Deery, Deery & Deery, LLC and Fred Rose, L.C.
In addition to developing the dealership and the additional commercial development, the development agreement would require Deery Brothers to construct the full four lanes of 10th Street adjacent to their property, including a widening of the intersection at 10th Street and Hickman Road.
Over the next seven years, the City of Waukee would reimburse them up to $950,000 for those improvements to 10th Street. The reimbursement would be made based upon taxes generated from the property over that time.
“It (the development agreement) is consistent with our policy of extending infrastructure,” said Waukee Development Services Director, Brad Deets.
The be eligible for the Tax Increment Financing dollars, Deery Brothers would need to meet the following requirements:
- Develop a 39,000 square foot building and site improvements, which would need to be completed by Jan. 31, 2019.
- Complete all required public improvements, including those to 10th Street by Oct. 1, 2018.
- Invest a minimum of $6.5 million in the development.
- Employ a minimum of 35 full-time equivalent employees.
In addition to the improvements to 10th Street, they would also have to complete some sanitary sewer and water main construction.
Over the next several years, it is anticipated by city officials that 10th Street would continue to be expanded to the south and eventually meet back up with County Highway R22.
Before the agreement was approved, the City Council approved an amendment to the Waukee Central Urban Renewal Plan for the Deery Brothers land, with the updated cost for the improvements.
The development map that was released last November showed that the development would consist of the 39,000 square foot building for the dealership, a 42,680 square foot retail/flex space, a 33,750 square foot flex space, a convenience store, a bank and a 3,990 square foot restaurant.
In May of 2016, the land was rezoned from A-1 (Agricultural District) to C-1 (Community and Highway Service Commercial District) and R-4 (Row Dwelling and Townhome District).