Apparently there's already "An unidentified Fortune 500 financial services company" considering or thinking about considering building an $80 million office project out in the Bettendorf "hi-tech" park that doesn't even exist yet. There are still other sites and even other states in the running though, so lets all hope we can get these 1000+ non pork related jobs for the QC. Maybe the other "sorta might be happening" news about the WIU riverfront campus maybe getting funded will help lure this unidentified company.
Seems like a lot of maybes, ifs, and mights, but I hope both the riverfront campus and the office complex become realities.
Read the QCTimes article here
14 comments:
Anything on Van Fossen?
I honestly would like to be shown what Bettendorf offers that's better than Davenport. Better incentives? The location certainly doesn't seem better, but since the article says they have onsite food, I guess the fact that there's no restaurant within 2 miles isn't a big deal. It just seems like the middle of nowhere to me.
Bettendorf has no licensed contractor ordinance (which is why Home Depot went there, so they could use their own contractors to build). Bettendorf is biz friendly (which is why Schnooks went there, in spite of the fact they own land in Davenport). Bettendorf has a lower property tax rate per thousand. In general, Bettendorf has less government interference.
What about their stormwater fee?
What about it?
According to various naysayers, stormwater fees scare away businesses.
The TIF was a factor sure, but that is pretty much an equal playing field, since nobody TIFs like Davenport. So the deciding factor in the case of Home Depot was most definately the Davenport licensed building contractor ordinance. I know for a fact that they wanted to use their own contractors to build, and if you check the records, they did so in Bettendorf.
Schnooks went through hell with the property they own in Davenport, even being told they could not sell liquor in Davenport. They packed up and went to Bettendorf. I don't recall anybody saying the number of cops or rental inspectors had anything to do with either decision, so I am not sure where you got that from. Davenport just is not a very freindly place for business.
Anonymous 2:02
"since nobody TIFs like Davenport".
I am confused. Do you think Davenport liberally utilizes TIF?? If you do, your nuts. Davenport has some of the most difficult, limited TIF restrictions in the state.
It's not a bid deal to get a commercial contractors lic. Especially if your a big time contractor that works with Big Box retailers. THF didn't have a problem getting it's guys to build two Wal-Marts...
George
Are you kidding? Heck, Davenport gave a huge tax break (something like 2 million dollars) to the folks that own the original Wal Mart building on Elmore for God's sakes. I believe I heard that an ex alderman's brother even got a TIF for improving his office overlooking the river, and who knows what kind of arrangement they had to make to induce one builder out of 400 to go with Prairie Heights. Davenport is a big TIF town, but there is more to it than just TIF. By the way, Bettendorf also has property taxes that are less per thousand than Davenport too. The main thing though, is that Davenport is just an unfriendly place to do business. Ask Schnooks.
George, you said...
"It's not a bid deal to get a commercial contractors lic." You are right, it isn't, unless you are trying to get one in Davenport.
Anonymous - you are dead wrong my friend when you said:
"Heck, Davenport gave a huge tax break (something like 2 million dollars) to the folks that own the original Wal Mart building on Elmore for God's sakes".
Davenport didn't TIF Wal-Mart one penny. In fact, Davenports laws will not allow TIF for any retail use what so ever. You guys need to check your facts.
Wal Mart did get a SSMID or Self Supported Municipal Improvement District, which allows them to tax themselves at a higher rate and use that increament to payoff the cost associated with the development. So Wal-Mart (actually THF) paid for Elmore Avenue, and the upgraded intersection at 53/Elmore. Again, they pay a higher tax rate to offset development cost. In Bettendorf, they get TIF (or typical taxes) rebated back.
And for the record, I believe it was Tom Engelmans brother who redeveloped the old KSTT building. He sought URTDA (Urban Revitalization Tax District A???(something). It's kind of a mini-TIF for a few years. But hey, just about any property south of Locust qualifies. And an old crappy building was modernized and looks great.
But off course, you probably have a problem with that as well. After all, it's Davenports contractor policies that is the real issue here... Right anonymous???
George
Geezzz,
I owe anonymous a slight apology. I just re-read his/her post. They talked about the former Wal-Mart store, not the new one.
But still anonymous IS WRONG. The buyers of the old Wal-Mart building didn't get TIF, but they did apply for the URTDA (I know I am getting some of those abbrev. wrong) policy. That allows the developer to recapture some of the taxes on the new (higher) taxes associated with redevelopment.
So if we all remember the big Wal-Mart battle, when opponents preached of the dark building and tumble weeds rolling across Elmore for the next fifteen years. They where wrong.
Bettendorf utilized TIF for over 15 years to attract Home Depot and the New Duck Creek Mall tenants. Davenport utilized a modest rebate policy that requires significant redevelopment investment for small discounts (over a few years)in tax relief.
Which city looks after the tax dollar better. You tell me anonymous....
George
Ok, thanks for making that correction, George. But, the fact of the matter is the guys that own the "old" Wal-Mart building did not need that tax break. Hell, the building was on Elmore Ave; not 2nd and Gaines. In other words, anything they do to improve the value of the property is income tax free up to a couple of million. And it is not like Elmore is some out of the way place that would not develop on its own anyway. Plus, the building was only 10 years old if that.
Regarding the other situation, I think you are right, I think the lucky recipient was Tom Engelmann's brother. But the deal there was that he already owned a fine brick office building with an incredible river view, and again, it would have been developed anyway. Perhaps the problem with Davenport is they only give tax breaks to the "inside crowd" that don't really need them and they are unfriendly to everybody else.
Finally, with regard to the Davenport licensed contractor requirements, I have heard from many people that it is incredibly tough to get a Davenport license. I have even heard some in the minority community claim the test is racially biased. The bottom line is that there is no Bettendorf licensed contractor test (or Moline test, or Rock Island test for that matter), and that is at least one major reason why Home Depot chose to build in Bettendorf. And, trust me, that is coming from a well placed Home Depot Source.
The Schnooks deal is a bit more open. Everybody knows they own property in Davenport but were told they could not sell liquor. So, they just told Davenport to kiss off. I think Davenport is just a very un-friendly place to do business.
Well, there you go. If what you say is correct, the accepted practice would have been that you could not even sell wine and beer at the Davenport Schnooks, and in order to get that conession to operate on a normal playing field with every other store in town, Schnooks would have had to agree to higher than normal labor costs. That is a no win situation, but one typical of the way business goes in Davenport. If they don't get you one way, they get you another. Talk about unfriendly! By the way, stop by the Bettendorf store for Schnooks, and you will see a huge well stocked liquor department, with lots of very nice offerings. The bottom line is that business will go where it is friendly to do business. George, I think you are blinded by your allegiance to the status quo in Davenport, but we can agree to disagree. Perhaps some day you will look at things a little differently when the last guy in Davenport is left to turn out the lights. I hope before that happens, people like Shawn Hamerlinck can straighten this mess out.
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