A letter submitted to the Iowa Economic Development Authority shows that about $44.3 million has been identified for funding the first phase of the Merle Hay Mall redevelopment project, which includes a multiuse arena and volleyball facility.
While that is about $12.6 million short of the $56.9 million that is needed, the difference could be made up through other sources, with Liz Holland, CEO of Abbell Associates LLC, the group that owns the mall, saying, “We have been working hard to fill the gap.”
The letter, delivered to IEDA late Tuesday by the Merle Hay Revitalization District Joint 28E board, complied with the March 31 deadline that IEDA set in its November approval of the revised application for Iowa Reinvestment Act funding for the project…