Posted 3 December, 2025
On July 22, 2022, the City of Cedar Rapids was approved for a maximum benefit amount of $9 million for the Cedar Rapids Central Reinvestment District with a commencement date established as January 1, 2025. Since then, a couple projects were identified as not ready for development and were removed from the plan. The district will still include mixed-use buildings, public plaza and an entertainment center. At today’s board meeting, the amended Cedar Rapids Central Reinvestment District plan was approved for the maximum benefit of $6 million. The projects within the reinvestment district area represent a $162 million investment.
On April 22, 2022, the Merle Hay 28E Board was approved for a maximum benefit amount of $26.5 million for the Merle Hay Reinvestment District with a commencement date of October 1, 2023. In August 2025, the Merle Hay 28E Board proposed an amended district plan, which was reviewed and scored by an evaluation committee. The new project plan includes the development of Merle Hay Arena with volleyball and pickleball courts, a hotel, retailers, a credit union and mixed-used housing opportunities. Today, the amended Merle Hay Reinvestment District plan was approved for the maximum benefit of $26.5 million with modified conditions. The projects within the reinvestment district area represent a $164 million investment.
The Iowa Reinvestment District Program is designed to assist communities in developing transformative projects that improve the quality of life, create and enhance unique opportunities, and substantially benefit the community, region and state. The program provides for up to $100 million in new state hotel/motel and sales tax revenues to be “reinvested” within approved districts that cannot exceed 75 acres in size and must be in an Urban Renewal Area.