Siouxland businessman plans to remodel old Prince Manufacturing building | Government and politics
SIOUX CITY – A local businessman plans to redevelop the old Prince Manufacturing building and surrounding land for new industrial tenants.
Dan Hiserote of Brickyard Developers, LLC purchased the former Prince Manufacturing site at 4600 S. Lewis Blvd., and the Southbridge Business Park. Hiserote will invest approximately $ 2.4 million in the property, which includes the initial purchase of the building.
FIMCO, based in North Sioux City, is one of the successful tenants. FIMCO, a manufacturer of lawn and garden supplies, will lease part of the facility for storage and distribution, according to documents filed with the city.
Sioux City Council will be asked to approve a resolution at its weekly meeting on Monday, which would schedule a public hearing on the proposed amendment to the Donner Park urban renewal plan. The plan amendment will allow the board to consider a development and minimum evaluation agreement with Brickyard Developers.
Hiserote intends to make a number of improvements to the property, including new parking lots and a new drainage ditch, as well as drainage improvements, utilities, fencing and related interior improvements to accommodate several industrial tenants, according to city documents.
People also read …
City staff members are currently working to finalize a development agreement with Brickyard Developers. Under the terms of the agreement, the city would offer the developer 75% property tax rebates on the additional new taxes created by the added value to the property for a period of five years.
In addition to the Brickyard Developers project, the city is also working with multiple perspectives for the development of various industrial projects at the city’s 27 Flags site in the Southbridge Business Park, according to the documents.
“If all or part of these projects come to fruition, the city will have to be ready to build the necessary infrastructure to accommodate the development (s) as well as to provide property tax refunds to help the project”, indicate the documents.
Prince Manufacturing closed its plant on Lewis Boulevard, which operated as Prince Hydraulics, in 2019. The plant has been manufacturing cylinders, pumps, valves and accessories for decades.