development agreement

Bettendorf sports complex building permits $8 million less than specified in development agreement

Building permits issued for the Bettendorf sports complex at Middle and Forest Grove Road total $38 million, some $8 million less than the $45 million value specified in the agreement with BettPlex developer Douglas Kratz.

Meanwhile, the cost of city infrastructure – sewer lines, stormwater facilities and street improvements to serve the 79-acre complex – is expected to be well above the $3.87 million specified in the same development agreement.

The sports complex builder, Build To Suit of Bettendorf, obtained the building permit August 28. The permits listed the building cost of $28.6 million, electrical work $4.11 million, heating/air conditioning $1.85 million and plumbing costs of $950,000, for a total value of $35.5 million. Two months ago, the developer obtained a permit for the sports complex foundation for more than $2 million.

City/Isle deal to end tax dispute; city gets $652,000 and schools, county may finally see tax boost

The tax dispute between the city of Bettendorf and the Isle of Capri Casinos, Inc. would be resolved under a development agreement deal expected to be approved tonight (11/17) by the city council.

The Isle has been seeking to lower the assessed value of its riverfront property to $45 million from the current $85 million. An appraiser hired by the city valued the Isle's two hotels and riverboat casino at $55 million. The county review board in June rejected the Isle's tax appeal, but the casino operator then filed suit in Scott County District Court.

City appraiser pegs value of Isle casino property at $55 million; stage set for court hearing on tax issue

An appraiser hired by the city of Bettendorf pegs the value of the Isle of Capri Casino and its two hotels at $55.15 million. The Isle contends the property is worth just $44 million.

Unfortunately for the city, both estimates are far below the current assessed value – $85 million – agreed to by the Isle under terms of the casino/city development agreement signed when the QC Waterfront Convention Center was built.

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