The Cedar Rapids City Council Tues eve voted in favor of scope away city-owned solid ground situated just westward of the downtown surface area for the possible evolution of a commercial message cassino resort.
A aggroup of about 80 local businesspeople who formed an entity called Cedar Rapids Development Group (CRDG) has partnered with Los Angeles-based Peninsula Pacific Ocean Entertainment (P2E) inwards hopes of bringing a commercial message cassino to Iowa’s second-largest city. CRDG has unsuccessfully sought a state-issued gaming license since 2014.
The Hawkeye State Racing and Gaming Commission (IRGC) sided with the state’s gambling casino interests inward rejecting the Cedar Rapids gambling casino diligence inward both 2014 and 2017 on claims that the res publica already has sufficiency casinos and another would hurt the stream operators.
After neighboring Cornhusker State authorised Las Vegas-style casinos at horse racetracks inwards 2020, IA lawmakers passed a government note that prevents the IRGC from issuing additional gaming licenses until July 1, 2024.
Waiting Game
The CRDG isn’t folding on its casino ambitions despite the temporary moratorium on young gaming licenses.
Along with the CRDG investors, Cedar Rapids’ elected officials make soft their concerns with the commonwealth continuing to overlook the town for a possible casino. Cedar Rapids Mayor Louis Comfort Tiffany O’Donnell (R) unsuccessfully pleaded with Gov. Kim Reynolds (R) to negative the casino moratorium statute.
The City Council on Tuesday ratified an accord for the roughly 25-acre site set between f and i Avenue NW and First and Fifth Streets NW that would permit CRDG to purchase the pamphlet should it ace daylight have a cassino license.
CRDG and Peninsula Pacific experience proposed a gambling casino holiday resort developing called Cedar Crossing. The vacant dimension is where Cooper’s John Stuart Mill stood before it was dismantled in 2017.
We are proud of(p) that the Cedar Rapids City Council has taken the next stair to make up Cedar Crossing a reality,” Jonathan Swain, chair of Peninsula Pacific Entertainment, said in a statement. “Cedar Crossing will live the topper casino grammatical construction projection that IA has ever seen, and it testament allow us to live come out our missionary post of service, quality, and biotic community through and through good-hearted gift among Linn County nonprofits and funding to the City of Cedar Rapids.”
The terms of the attribute trade require CRDG to directly pay off the urban center $165K to give the right-to-purchase contract. The option runs through and through 2025.
If the land hasn’t issued CRDG a commercial message gaming let past the initial deadline, the grouping would feature the option to poke out the right-to-purchase accord by another twelvemonth for another $55K. Should CRDG gain a gaming concession, the chemical group would purchase the ground from the metropolis at a fair securities industry value.
Early Details
The proposed blueprint for Cedar Crossing includes a 160,000 square up feet complex. The $250 gazillion send off would feature film a gambling casino along with restaurants and bars, positive a 1,500-seat amusement venue.
Cedar Rapids Council Member Winfield Scott Overland voted in favor of designating the city-owned dry land for a possible casino, but he won’t be betting on the resort before long coming to fruition.
“It’s up to the Racing and Gaming Commission,” Overland said. “It’s a extremely political situation and i wouldn’t follow betting my tiffin tomorrow that a permit comes around any clip soon.”
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