The one-block Town Square idea kicked around by Bettendorf aldermen this spring has now mushroomed into a three-block downtown makeover with city taxpayers expected to contribute from $8 million to $15 million in land donations, interest rate buy-downs and developer tax rebates.
The two competing Town Square project proposals – from Russell Companies, Davenport, and Newbury Living, Des Moines – also call for obtaining state housing tax credits to help pay for either senior- or workforce-housing that would be built as part of the redevelopment.