Those businesses would be eligible for a one-year forgivable loan, according to Vickie Reeck, the city’s community and economic development manager.

She said businesses receiving the loans would have to move and reopen within a year.

The money could be used for moving expenses and for printing materials that list the new address of the business.

As presented to the City Council Monday, only businesses that are currently in the mall would be eligible for the loans. There are now 13 tenants in the mall, Reeck said.

-Submitted graphic
Gateways like this will welcome people to Corridor Plaza, a development featuring stores, offices, apartments, a hotel and other amenities on what is now the Crossroads Mall site. Crossroads Plaza Development LLC, of Ankeny, bought the property last year and is redeveloping it.

Councilman Jeff Halter said he could not support the proposal if businesses that have already moved out of the mall would not be eligible also. He cited a fish store and a hair salon which are locally owned that moved out of the mall soon after the new owners took over.

Councilmembers Kim Alstott, Neven Conrad, Dave Flattery, Terry Moehnke and Lydia Schuur said they also wanted to expand eligibility for the loans.

“I’m all for including everyone that is involved,” Mayor Matt Bemrich said.

While the elected officials indicated that they want businesses that have already moved from the mall to be eligible for the loans, they did not approve the program yet. The city staff will now write up a detailed proposal to be submitted to the council for action.

The mall site, which is being renamed Corridor Plaza, was purchased last year by Crossroads Plaza Development LLC, of Ankeny. That firm’s plans for the site include eight retail buildings; seven mixed-use buildings housing stores, offices, and apartments; an office building; a gas station; a clinic; and a hotel. Part of the southern end of the current mall would be renovated to create space for six to seven stores.