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Property Purchase Negotiations Approved

Property Purchase Negotiations Approved

Spencer, IA (KICD)–The Spencer City Council has unanimously approved moving forward with negotiations to purchase 47 acres of property on the south end of town that was recently purchased as a part of the Holiday Inn Express project.

City Manager Bob Fagen noted that there is plenty of interest in the property by a developer for single and multi family housing.

City Councilmember Ron Hanson noted the need for more homes in town.

Councilmember George Moriarty reiterated that need for more housing.

Spencer Municipal Utilities and the City of Spencer would split the cost of acquisition and installation of infrastructure which is expected to come in below $1.5 million in total. Soil testing is expected this week.

This land is located to the south of Bomgaars.

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