- Associated Press - Saturday, December 13, 2014

COUNCIL BLUFFS, Iowa (AP) - A cold-storage warehouse that would create at least 50 new jobs has been proposed along Veterans Memorial Highway in Council Bluffs, just across the river from Omaha, Nebraska.

The company, XTL Inc., has an option to purchase and develop real estate at the location, the Council Bluffs Daily Nonpareil reported (https://bit.ly/1qJlAJE) Saturday.

The project would involve a 155,000-square-foot, cold-storage facility on 51 acres offering warehousing and logistical support to major food processors in the region, said Mike Dellinger, executive director of Advance Southwest Iowa Corp.

The building’s construction value is estimated at $27 million, and the automated facility would include $17.5 million in equipment and $9.5 million in racking, shelving and other necessary personal property. About 50 jobs would be created initially to operate the facility with an annual payroll of nearly $2.5 million.

In November, the project was awarded $1.2 million in state tax credits, and XTL is seeking a 15-year tax increment financing agreement from the council. The agreement would be used for purchasing the land and bringing the property up to standards, Dellinger said, because the land contains poor soils and would have to be elevated. There are also wetlands that must be dealt with, he said.

Even so, it’s an ideal location for development, City Attorney Richard Wade said.

“There are good roads around there,” he said.

The Council Bluffs City Council is set to vote on XTL’s construction tax breaks Monday night. The City Council also will be asked to approve rezoning the land to allow the construction.


Information from: The Daily Nonpareil, https://www.nonpareilonline.com

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