Hunter
12/03/25
Two area redevelopment projects will receive tax credits from the Iowa Economic Development Authority.
The Gazette reports about 40 acres of land that was once part of the former ACT campus is being redeveloped by JNB Iowa City into commercial properties along with senior housing along Dodge Street and Highway 1.
University of Iowa alum Mark Kaufman purchased the Iowa River Power Restaurant building in 2024 and is in the process of renovating the building through Old Black & Gold LLC. The restaurant closed at the end of 2023 when the building owner did not renew their lease after being there for 46 years.
Both projects are considered grayfield sites, having either long term vacancy or requiring significant infrastructure improvements to be usable again.
JNB Iowa City received tax credits of up to $700,000; Old Black & Gold LLC received $1.3 million.