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Park Place building owner asks city for tax-incentive package

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By Joe Foreman, Editor

The owner of the Park Place building at 114 Green St. in Glenwood says he wants to turn the former  skilled nursing care and rehabilitation center into a modern assisted living and memory support facility, but will need property tax incentives from the city to secure private funding for the $2-million project.

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Aaron Rodenburg first shared his plans for the property with members of the Glenwood City Council last fall. Rodenburg wants to turn the building into a privately-operated assisted living facility that could house between 60-90 residents. Glenwood  Lake Senior Living Community would feature both regular assisted living rooms and  a memory support unit. The facility would create 25-30 jobs, according to Rodenburg.

A representative of Rodenburg discussed the proposed $400,000 “incentive package” with city officials last week at City Hall. The incentives could come in the form of a multi-year “sliding scale” tax abatement plan and a rebate of some of the current taxes owed on the property. Glenwood City Attorney Matt Woods said Rodenburg owes approximately $70,000 in existing taxes on the property incurred in September 2016 and March 2017. Under the proposal discussed last week, Rodenburg would receive a refund of the city’s portion (about $24,000) of the $70,000 after the taxes are paid.

The city council is expected to make a decision on Rodenburg’s request in the coming weeks. Iowa state code allows a city to designate an area as an urban revitalization zone, which opens the door for qualified improvements to real estate in that area to be eligible for partial or full property tax abatement for a specified number of years.

Rodenburg purchased the Park Place building shortly after Five Star Quality Care closed the facility in April 2015. Rodenburg conceded last fall he had hoped to resell the property for profit but soon realized the facility has limited uses.