The city is conducting a two-step request for proposal process to determine the best proposal for the sale of this property, a two-story commercial building located at 20 East Main Street, in the Marshalltown Central Business District. This is Step 1, requesting letters of interest. Questions on this RFP may be addressed to:
Heather Thomas, P.E.
Public Works Director
City of Marshalltown
Phone: 641-754-5734 Ext. 4100
Email: hthomas@marshalltown-ia.gov The City of Marshalltown owns a two-story commercial building located at 20 East Main
Street, in the Marshalltown Central Business District, and is interested in this property
being redeveloped. The City obtained this property in May of 2022 through a court
ordered sale pursuant to Iowa Code 657A.10B, Petition by the City for title to
abandoned property. The building has been vacant for several years. The City Council
wishes to sell the property pursuant to Iowa Code 403.8, which is allowed in urban
renewal areas where slum and blight exist. This gives the Council the ability to seek
request for proposals that allow the selection of the buyer based on the best proposal
and not just the amount to be paid.
The property is zoned Urban Core and will be sold AS-IS. The building sits on a 20' x
180' lot and has approximately 3000 sq. ft. on each floor. The main floor and associated
mezzanine have previously been used as retail space, most recently as a clothing store.
The second floor currently only has access from an adjacent property and appears to
have been used most recently only for storage. There is also an unfinished basement.
Access to the main floor of the building is available on the north side from a public alley
and on the south side off of E Main Street.
This building should be considered largely unfinished and will need substantial
renovations to be brought up to code. All renovations will be required to meet the
requirements of the Marshalltown Zoning Code for properties located in the Urban Core
(UC) zoning district. The property is also located in the Main Street Historic District.
The city wishes to conduct a two-step request for proposal process to determine the
best proposal for the sale of this property.
o Step 1 is intended to provide an opportunity for potential developers to view
the property and submit general information to the City regarding their
proposed redevelopment of the property through a letter of interest. Step 1 is
intended so that Developers do not need to expend funds and significant
resources/time to develop business or redevelopment plans.
o From Step 1, the City's selection committee will review the received interest,
outline the parameters that will be used to determine what information will be
required in Step 2, what information will be used to determine the best
proposal and invite developers to submit on Step 2 of the Request for
Proposal.
o Those developers interested in submitting Step 1, a Letter of Interest, shall
include the following information in their letter:
o name and contact information for the proposed buyer/development
team;
o the proposed end use of the property, including both the first and
second floors;
o a summary of the developer's experience and qualifications in
redeveloping a property, especially one that is part of a historic and/or
downtown district; and
o a statement acknowledging the developers understanding that a
project of this nature is expected to exceed $500,000 in redevelopment
expenses and their ability to financially take on a project of this
magnitude (no financial assurances/statements are required to be
submitted with Step 1).
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