Hunter
01/08/26
The Iowa City Downtown Self-Supported Municipal Improvement District has been renewed for another ten years.
The City Council unanimously approved new boundaries for the district this week.
The Self-Supported Municipal Improvement District’s new tenure begins July 1 and expires June 30, 2036. The Corridor Business Journal reports as part of the reestablishment, its borders are expanding to include other parts of Iowa City. The north expansion area encompasses the downtown University of Iowa Health Care campus on Market Street, while the south expansion extends from Court Street east to Gilbert Street, including the businesses along the railroad tracks.
Property owners in the District will be assessed up to $2.50 per $1,000 of assessed value during the first seven years of the new term, increasing to a maximum of $2.75 per $1,000 for the final three years.
Council documents state the Iowa City Downtown District’s mission is to champion a thriving downtown economy, fostering a vibrant community and welcoming experiences for all. Executive Director Betsy Potter told the Journal the Self-Supported Municipal Improvement District represents a shared commitment to downtown Iowa City’s future, and the team and board at ICDD are “ready to get to work.”