Posted 30 March, 2026
Last year, the Iowa Legislature increased the total number of acres allowed in Iowa Reinvestment Districts approved after July 2020 from 75 to 125. IEDA opened a filing window for all existing eligible districts to apply for an expanded district and additional funds (that were not formally awarded). The City of Des Moines and City of Fort Dodge submitted amended district plans.
On October 18, 2024, the City of Des Moines was approved for a maximum benefit amount of $23.5 million for the Capital City Reinvestment District – which includes the Stadium Neighborhood, Western Gateway and Gray’s Landing – with a commencement date established as January 1, 2028. The city proposed expanding the boundary approximately 50 acres south of East Village in the Market District. The amendment includes mixed-use development with retail, office, hospitality and housing opportunities. The board approved the amended Capital City Reinvestment District plan for an additional maximum benefit amount of $9.5 million, increasing the total maximum benefit amount in the district to $33 million. The projects within the expanded reinvestment district area represent a $289.2 million investment.
On April 22, 2022, the City of Fort Dodge was approved for a maximum benefit amount of $17 million for the Corridor Plaza Reinvestment District with a commencement date of July 1, 2023. The city plans to expand the boundary to include portions of the Central Village and Central River districts, connected by the 1.5-mile Cross-town Connector. The amendment includes downtown building rehabilitations and new mixed-use housing, public improvements and streetscape enhancements, hotel renovations and a new riverfront restaurant. Today, the amended Corridor Plaza Reinvestment District plan was approved for the additional maximum benefit amount of $3.5 million, increasing the total maximum benefit amount in the district to $20.5 million. The projects within the expanded district represent a $41.3 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 in an Urban Renewal Area.