City of Dubuque officials are proposing the purchase of a downtown business for $1.7 million to make space for a parking structure.
City Council members will discuss the purchase of the Hendricks Feed & Seed Co. property, located at 880 and 898 Central Ave., at their meeting on Monday, June 7.
The property eventually would be used as the site for a planned $20 million parking facility that city has to construct as part of a development agreement with Roshek Property, LLC; Cottingham & Butler; and Heartland Financial USA.
Cottingham & Butler and Heartland Financial announced in late 2019 their plans to purchase Roshek Building — the largest office building in downtown Dubuque. The city signed into a development agreement with the two companies promising to construct a 500-space parking facility downtown to meet the added parking needs created by the companies’ expansion in the building. The facility must be completed by Dec. 31, 2023.
City documents state the city has negotiated an offer to buy the Central Avenue property from Hendricks Feed & Seed and that the company can lease the property from the city at no cost until Sept. 30, 2022.
In a press release sent to the Telegraph Herald, William Hendricks, president of Hendricks Feed & Seed, stated that his business will continue operating at a new location after the property is taken over by the city.
The new location will be announced before Hendricks moves out of the property next year.
When contacted by phone, Hendricks said he has not yet found a new location for the business but declined to offer any further comment.
This story will be updated.