Background:
The City is currently working with a specific developer for the construction of a warehousing and distribution operation that will create more than 1,000 permanent jobs in the City of Davenport.
This project would be located on 160 acres directly west of the Davenport Municipal Airport on Division Street. Several upgrades must be made to both the street infrastructure leading to the project site as well as improvements surrounding the area to accommodate the increase in automobile and industrial traffic. Proposed improvements include:
- Reconstruction and new turning lanes on north Division Street adjacent to the project site
- Intersection improvements at Hillandale Road & Research Parkway with the EIIC
- Intersection improvements at Northwest Boulevard & Hillandale Road at the entrance of the EIIC
- Intersection improvement at Northwest Boulevard & West 76th Street
The estimated cost of these improvements are approximately $3,900,000. The City is applying to the Iowa Department of Transportation’s Revitalizing Iowa’s Sound Economy (RISE) grant program to help with the cost of these improvements. The project will be broken out with RISE funding coming from both the Immediate Opportunity grant and the General Development grant. The Immediate Opportunity RISE funding request is estimated to cover 80% of costs (with an estimated award of $3,120,000).The RISE program requires a matching contribution. The City anticipates using general fund and bonds abated by TIF funding to cover the 20% required contribution of $780,000.