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Developer seeking rezoning of city owned land adjacent to Bettendorf sports complex

A Bettendorf sport complex developer is seeking to rezone land adjacent to the facility – and currently owned by the city – for commercial and multi-family residential uses.

Kevin Koellner, one of the developers of the sports complex, obtained approval to rezone the land from the city's planning and zoning commission at the group's Aug. 15 meeting. Commissioners apparently were unaware the city purchased the land in August 2017 from the developers for $600,000 (or $60,000 per acre).

Lee Enterprises operating revenue falls 4.8 percent in third quarter; per share earnings decline 27 percent

Despite gains in its digital advertising revenues, Lee Enterprises, Inc. today (8/3) reported overall operating revenues in the third quarter fell nearly 5 percent and net income per share was off 27 percent compared with the same period a year ago.

Lee – owner of the Quad City Times and Dispatch-Argus newspapers – had net income of $4.75 million (8 cents per share) for the three-month period ended June 24, compared with $6.29 million (11 cents per share) a year ago.

Cost of BettPlex sports complex roads, sewers and stormwater detention to exceed $4.6 million; development agreement cap set at $3.87 million

The sreets, sewers, stormwater detention and walkways being built as part of the new I-80 and Middle Road sports complex are now expected to cost over $4.6 million, $760,000 more than the city's initial commitment outlined in the development agreement with BettPlex LLC, owner of the TBK Bank Sports Complex.

Most of the cost overruns beyond the $3.87 million cap are likely to be picked up by taxpayers, according to a cost summary provided by the city to bettendorf.com.

Lee Enterprises signs deal to manage Berkshire Hathaway's newspaper, digital operations

Lee Enterprises – owner of the Quad City Times and 48 other media properties – today (6/26) announced it has agreed to a five-year deal to manage Berkshire Hathaway's newspapers and digital operations in 30 markets.

Davenport-based Lee would be paid $5 million a year by GH Media, plus "a significant percentage of profits over benchmarks," according to the company's news release.

Lee stocked jumped 62 cents, nearly 26 percent, to $3.03 per share in early morning trading.

Bettendorf's new Devils Glen bridge over Spencer Creek awaits future growth north of Interstate 80

When the new Devils Glen Bridge across Spencer Creek was dedicated in late 2016, the city of Bettendorf was wise to provide directions for the news media and officials invited to the event.

"At the roundabout, head north on Middle Road, continue under I-80. At approximately ½ a mile past I-80, veer left onto Indiana Road. Follow Indiana Road past Hidden Hills Golf Course," the release stated. "The bridge over Spencer Creek is shortly after that. *Not accessible from Utica Ridge Road at this time due to Davenport’s road construction project."

It's also likely those who attended the dedication haven't crossed the bridge since that ceremonial ribbon-cutting.

Former Jumer's Lodge site targeted to become new Home2 Suites by Hilton if tax rebate plan approved

A 109-unit hotel with a new all-suite extended stay concept would be built on the site of the old Jumer's Lodge in Bettendorf if the developer gets a 10-year, 100 percent Tax Increment Financing (TIF) rebate from the city.

The new development would be anchored by a Home2 Suites by Hilton, an extended stay brand that offers a full kitchen in each unit, free breakfast and welcomes pets. Hilton has one other Home2 Suite hotel in Iowa located in Coralville.

Lee reports lower revenues, earnings in 2nd quarter

Lee Enterprises – owner of the Quad City Times and Dispatch-Argus newspapers – today (5/3) reported lower revenues and earnings for the second quarter despite "strong performance in digital retail."

Second quarter earnings were $2.5 million, 4 cents per share, for the quarter ended March 25, compared with $6.4 million, 11 cents per share, for the same period a year ago, according to the company news release.

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