We have heard from the group that has purchased the Marshalltown Mall, The Shops at Marshalltown, and earlier this week we heard from City Administrator Carol Webb.  Webb shares some thoughts about offering TIF, Tax Increment Financing, through the Development Agreement.

In the 20-year agreement, the City will give a 90% tax rebate for years 1 – 3 to The Shops at Marshalltown.  As Webb said, the rebate is only for value ADDED to the property.  The base value, The Shops at Marshalltown will be paying their full property tax.  Webb shares more information about timeline of development

The Shops at Marshalltown has told KFJB that they expect announcements for stores to start sometime this fall and new stores opening potentially Spring of 2026.  They do plan to redo the parking lot this fall.

Zach Tomesch, News Director KFJB