George City Council Meeting Minutes March 2026
Development and Housing Grants Awarded to PLATINUM INVESTMENTS
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Description
George City Council awarded a $50,000 development grant and supplemental housing subsidy totaling $28,800 over three years to PLATINUM INVESTMENTS for construction of an 8-unit apartment complex, with repayment of the land purchase from TIF proceeds.
Contract Details
Contract Amount
$50,000 development grant and $800/month for 36 months (total $28,800) Supplemental Housing Grant
Vendor
PLATINUM INVESTMENTS
Agency
City of George, IA
Contract Type
OTHER
Document Date
March 11, 2026
Contract Term
Three years supplemental housing grant; one-time $50,000 development grant
Renewal Date
2029-03-11
Renewal Info
Supplemental housing grant continues for three years, paid annually. TIF repayment for land purchase ongoing until fully compensated.
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