(Spencer)– A groundbreaking ceremony was held today (Fri.) in Spencer for a major business development on the city’s north side. Mayor Steve Bomgaars says the project at the North Y represents the city’s commitment to future growth…
“In rural Iowa cities have two choices: we can either stand still, keep the status quo, and we move backward. But in Spencer, we have another choice. We can move forward and provide the infrastructure to foster economic growth in our community. We’ve chosen that second step, not the first one. We are moving forward with this project.”
Bomgaars says it’s one of the most significant projects in the city’s recent history…
“This development will include half a mile of street, sewer, electric, water expansion along with two side streets. This development, we are certain, we are absolutely certain, will spur commercial development of the north side of Spencer approximately 35 acres of new business opportunity. I believe that this is the greatest opportunity for economic growth in Spencer in decades.”
The city is issuing urban renewal general obligation bonds to finance the project.
At least one business, Kwik Star, has already announced plans to locate in the development.
