Olive and 170 TIF

TIF Timeline of Key Dates

  • November 15, 2021: Pursuant to University City ordinance No. 7455, the city approved the ability to perform construction work or activity during otherwise prohibited times in connection with the Markets at Olive project, Night Construction Work.
  • April 1, 2021: The city announced that property for the Costco phase of the Markets at Olive development was transferred on March 31 to Costco Wholesale. As a result of the purchase, the city has received $3 million which is earmarked for improving the Third Ward. 
  • March 29, 2021: The city announced that property for the first phase of the Markets at Olive Development has been acquired with financing and project development support for Novus Development provided by Bob Clark and Larry Chapman, partners at CRG Real Estate Group. Cedar Rapids Iowa Bank is also providing financing for the project.
  • June 10th, 2019: City Council voted to APPROVE the Redevelopment Agreement for the Olive/170 Project. The final Redevelopment Agreement is posted below.
  • January 14, 2019: Bill 9379 introduced the Redevelopment Agreement for the Olive/170 project. Both the Bill and the Redevelopment Agreement (Exhibit A) are posted below.
  • August 23, 2018: The city's TIF Commission voted to recommend TIF financing to City Council for the Olive/170 Development.
TIF Redevelopment Project Areas Map
For TIF Commission Agendas, Minutes, and Audio Recordings, click here

Press Releases

Condemnation Release May 14, 2020

Final Redevelopment Agreement 

  1. Final Redevelopment Agreement

Recent Documents

  1. Exhibits A and B - 9379 - Redlined Redevelopment Agreement
  2. Ferry Financial Documents Email Correspondence
  3. Rate Return Table
  4. Financial Analysis - U City Project (Document 2) 5-22-18
  5. Financial Analysis - U City Project (Document 3a) North Only 5-20-18
  6. Financial Analysis - U City Project (Document 3b) 5-17-18
  7. Financial Analysis - U City Project (Document 4a) 5-17-18
  8. Financial Analysis - U City Project (Document 4b) North Only 5-20-18
  9. Financial Analysis - U City Project (Document 5) 5-17-18
  10. Financial Analysis Inputs
  11. JFerry Memo (4-18-19)
  12. Jon Ferry Report
  13. Redevelopment Press Release

University City Documents

  1. JFerry Memo (4-18-19)
  2. Jon Ferry Report
  3. Exhibits A and B - 9379 - Clean Revelopment Agreement
  4. Exhibits A and B - 9379 - Redlined Redevelopment Agreement
  5. Financial Analysis Inputs
  6. Financial Analysis - U City Project (Document 5) 5-17-18
  7. Financial Analysis - U City Project (Document 4b) North Only 5-20-18
  8. Financial Analysis - U City Project (Document 4a) 5-17-18
  9. Financial Analysis - U City Project (Document 3a) North Only 5-20-18
  10. Financial Analysis - U City Project (Document 3b) 5-17-18
  11. Financial Analysis - U City Project (Document 2) 5-22-18
  12. Rate Return Table
  13. Bill 9379 - Ordinance approving Redevelopment Agreeement CMP
  14. Exhibit A - Redevelopment Agreement (1.11.19 for Council)
  15. University City TIF Redevelopment Plan Outline
  16. Draft Relocation Policy
  17. TIF Commission Aug 23 Agenda and June 22 Draft Minutes
  18. U City TIF Ordinance 7075
  19. TIF Commission Resolution for Approval
  20. Report by City Manager to TIF Commission, Aug 23
  21. 10_16_18 Meeting Notes
  22. TIF Commission Resolution
  23. TIF Commission Resolution Exhibit A - Redevelopment Plan Updated May 29, 2018
  24. TIF Commission Resolution Exhibit B, RPAs 1, 2, 3 Cost Benefit Analysis
  25. Bill 9371 - Ordinance approving RPA 1 Project2
  26. Bill 9373 - Ordinance approving RPA 3 Project2
  27. Bill 9372 - Ordinance approving RPA 2 Project2
  28. Bill 9370 - Ordinance Approving Red Plan2
  29. Exhibit C - Cost Benefit Analysis RPA 1 2 and 3
  30. Exhibit B - Resolution with Redevelopment Plan May 29 2018
  31. Exhibit A - Redvelopment Plan Sept 4 2018

Redevelopment Plan Documents

  1. Overall TIF Boundary Map
  2. PGAV School District Fiscal Impact Memo
  3. RPA 1 CBA Updated 6/4/2018
  4. RPA 3 CBA Updated 6/4/2018
  5. RPA 2 CBA Updated 5/29/2018
  6. Changes Memo 5-29
  7. Redevelopment Plan - Updated 9/4/2018

Developer Proposals

  1. Novus Proposal - I-170 Olive Blvd

ROARS Special Edition on the Redevelopment Plan Overview

  1. ROARS Special Edition

Community Meeting Materials

  1. 3rd Ward Housing Analysis
  2. 2018-08-08 3rd Ward Neighborhood Mtng Audio
  1. How will 3rd Ward Residents be affected?
  2. How will Olive Businesses be affected?
  3. What is the TIF Commission?
  4. Who makes up the TIF Commission?
  5. Will eminent domain (condemnation) be used?
  6. How will the City assist with relocation?
  7. What is the project timeline?

Contact Us

  1. TIF Hotline

    TIF Hotline Number
    Phone: (314) 505-8780
    This is the contact number for the TIF Hotline.

    Please leave a message with the following information:
    • Name
    • Call back number
    • Question/Comment

    A representative will return your call.

TIF Graphics

How a TIF Works
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