Created: 02/17/2014 10:50 PM KAALtv.com
By: Jenna Lohse
(ABC 6 News) -- An economic development project that could bring a significant number of jobs to the clear lake area is one step closer to being a reality.
It's being described as one of the largest economic development projects in Iowa history. A 340,000 square foot warehouse and distribution facility was discussed at Clear Lake's City Council Meeting Monday.
In a unanimous vote, the city council approved the proposed development agreement. It has two parts, a 15-year property tax rebate and a more than $1.6 million forgivable loan. The company must also meet its obligation of securing more than 164 jobs in the area.
But the real question, is what is this fortune 100 company that could possibly be coming to Clear Lake Industrial Park?
City officials say that the company will remain nameless throughout the entire 18 months of construction because of significant competitive reasons. For some residents, the identity of that company doesn't matter all that much.
"If we can add jobs, bring in new families, if we can create jobs to keep our families here it's going to benefit the businesses in town, it's going to benefit our schools to keep up our population," Clear Lake resident Tom Lovell said. "I see nothing but positives."
The deal isn't finalized yet. Although several city officials are optimistic about the project.
There will be another public hearing in Clear Lake on March 3rd.