CASCADE, Iowa — Cascade City Council members last week approved a development agreement tied to the renovation of a downtown building.
Council members agreed to a 10-year, zero- interest loan of up to $50,000 to developer Brian Bock.
Bock bought the former Corner Tap building at 201 First Ave. W in Cascade in September 2019, and work to create three apartments on the building’s second floor started earlier this year. Last month, it was announced that Happy Joe’s Pizza & Ice Cream would open in one side of the building’s ground floor, while Corner Tap Room will open in the other half. The latter is being opened by the owners of Textile Brewing Co. in Dyersville.
City council members also agreed to award the project up to $60,000 through tax-increment- financing benefits until the 10-year contract with the city expires, said City Administrator Deanna McCusker. This financing method incentivizes property owners to improve or renovate their buildings by giving them back a portion of the increased property taxes they would have incurred as a result of the improvements.