Cedar Rapids, Iowa News, Sports, and Weather
Dyersville City Council OKs Ballpark Heaven Agreement
By Lauren DeWitt, Reporter
DYERSVILLE, Iowa -- Tonight, the Dyersville City Council and the developers of the All-Star Ball Park Heaven approved a final agreement.
The agreement details construction of water and sewer lines as well as a deal for the developers to close on the Field of Dreams movie site property.
"What we tried to do is expand on that memorandum of understanding. It didn't really change much from what we had 2 to 3 months ago, but it is more specific and it talks specifically about how we are going to accept water and sewer projects and it is much more specific than we did before. " Said Jim Heavens, Mayor of Dyersville.
In the agreement, the city will pay an annual economic development payment to the developers. The payments will be done through tax increment financing with all money being taken from property tax revenue that is generated by the project. Payments to the developers will not exceed $5,130,000 over a 15 year period.
The estimated cost of the project is about 38 million dollars.