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Storm Lake City Council Moves Forward with Development Projects

November 13, 2019 9:29am

(Storm Lake, IA) -- There was a special meeting last night for the Storm Lake City Council. The purpose of the meeting was to strike an agreement between the city of Storm Lake, Lincoln Savings Bank, and FB Storm Lake LLC for a loan of roughly $7.7 million.

The intent of the loan would be to purchase and develop property and projects within Storm Lake.

Two goals discussed at the meeting included infrastructure improvements for a new feed mill that will be replacing the old feed mill. The new building is expected to create 15 new jobs.

Construction is expected to start in 2019. One requirement is that roads be updated in the area to deal with increased demand. The council hopes to have the improved roads paved by next spring.

Also discussed was the development of condo sites which can be sold or rented. The developer of the site is looking at 14 million dollars for the project.

There was no public discussion as no one from the public was at the meeting. In fact, Only Mayor Porsche and Councilman McKinney were present with the other members there via cellphone.