DUBUQUE (AP) — The Dubuque City Council has voted to purchase more than 160 acres for $2 million to make way for a new industrial park.
The city council voted 7-0 on Monday night to buy the land from Doris Graf, whose family recently agreed to sell it to the eastern Iowa city. The mayor says the purchase represents an investment in the city's continued economic growth.
The property will be developed over the next several years to accommodate large industrial businesses like warehouses and manufacturing companies.
The land is located just west of Dubuque's existing industrial parks. City officials estimate each acre will sell for about $120,000, which would be on par with the asking price for property at existing parks.