June | 01 | 2008

A low demolition contract bid for the former Chamberlain Manufacturing Company site will allow the City of Waterloo to tear down more buildings than originally planned. The initial contract of $245,000 permits the city to add another $147,000 worth of demolition work to the project. The city is combining the funds with a $175,000 Iowa Department of Economic Development (IDED) Iowa Brownfield Fund grant to demolish the structures.

April | 7 | 2008

The City of Waterloo received an EPA Brownfield Hazardous Substances Cleanup Grant for the former Chamberlain Manufacturing Company site. The city will use the funds to remove the trichloroethylene and inorganic contaminants from the property to allow for its redevelopment. Cleanup of the property is expected to reduce environmental justice concerns in the neighborhood, contribute to removing stigma associated with the site, and help the city cultivate reinvestment opportunities.

March | 15 | 2008

Bourbon Street restaurant and the Voodoo Lounge bar are opening establishments on the first floor of the historic Black’s Building. The project also includes the re-opening of the former Black’s Tea Room, located on the eighth floor, for private parties. The expected $1 million to $2 million investment will likely create between 90 and 120 jobs. Bourbon Street restaurant and the Voodoo Lounge serve as another key element of the entertainment district on East Fourth Street in downtown Waterloo.

March | 14 | 2008

East Fourth Street in downtown Waterloo is scheduled for $1.26 million worth of improvements during the summer of 2008. The city plans to reconstruct all streets and sidewalks from Mulberry Street to the Cedar River while also adding enhanced landscaping.

March | 09 | 2008

The Screaming Eagle American Bar and Grill is set to open on the street level of the historic Fowler building. The 6,000 square-foot establishment in downtown Waterloo will have an American theme and a stage for live music. Additionally, the mixed-use development includes offices and loft-style apartments on the second and third floors respectively.

February | 23 | 2008

The City of Waterloo is expected to open bids next month to demolish the former maintenance and Cooper buildings located on the Rath Packing Co. campus. Crystal Distribution Services, Inc. signed a development agreement with the city to construct a 60,000 square-foot cold storage operation on the land that will add approximately $3 million to the tax base. The planned-expansion marks another success in the city’s aggressive redevelopment of the area as all former Rath Co. structures will have been reused or demolished.

February | 09 | 2008

The Iowa Board of Regents approved a five-year lease agreement between Cedar Valley TechWorks and the University of Northern Iowa’s National Ag-based Lubricants program (NABL). The NABL, which researches and creates bio-based lubricants, becomes the first tenant on the campus designed to bring Waterloo into the “New Economy.” The project will help transform and diversify Waterloo’s workforce and solidify its spot in the global market. Cedar Valley TechWorks is a bio-based product research and development center with a focus on bio-based agricultural products. The development of the campus is in conjunction with the extension of Commercial Street from River Road to the interchange of U.S. Highways 63 and 218 and University Avenue. The corridor will provide a new entrance into downtown and directly connect John Deere Co. and Cedar Valley TechWorks to the highway.

January | 07 | 2008

Mako Waterloo Corp. acquired the historic former Rath Administration building from the City of Waterloo. The city donated the building and land for $1 and agreed to remove asbestos by May 1, 2008. The estimated removal cost of $350,000 was also a necessary expense if the city continued its plans to eventually tear down the structure. Mako Waterloo agreed to spend an estimated $1.5 million on roof repairs; installing heating, cooling and electrical systems in the building; repairing windows; resurfacing the parking lot; and landscaping the property. The corporation has two years to complete renovations and reach a minimum assessed value of $2.25 million. Upon achievement of the requirements, the property will receive 10 years of full property tax rebates on the value of the improvements. The developer plans to target high-technology tenants for the structure.

December | 10 | 2007

City Council recently received numerous bids for razing a portion of the former Chamberlain Manufacturing Company buildings. The $245,000 bid from D.W. Zinser Co. of Walford was well below the $384,000 estimate from the city's consultant. The low bid allows the city to possibly demolish more structures than initially thought.

December | 09 | 2007

Bergan, Paulsen & Co., certified public accountants, recently purchased a historic riverfront building located at 100 E. Park Ave in downtown Waterloo. The firm invested nearly $2 million in the city’s urban core with renovations and acquisition costs. The move keeps 50 jobs downtown with plans to hire an additional three per year as the firm’s business and client base grow.

November | 25 | 2007

The City of Waterloo set aside $400,000 to demolish a portion of the former Chamberlain Manufacturing Company buildings. The funding includes a $150,000 Iowa Department of Economic Development (IDED) Iowa Brownfields grant. Phase one of the removal focuses on older buildings located in the southern portion of the complex which pose structural threats. The demolition will raze approximately 20 percent of the structures on the site. The city hopes to garner additional grants to help complete the removal process estimated to exceed $1 million.