The Sioux City Council approved a development agreement with Lieber Heights in its meeting Monday.
There was a long discussion about the project, with some residents raising their concerns, including traffic and land erosion.
The development project will create 156 new homes with prices ranging from $300,000 to $600,000. It is anticipated that custom homes in the $500,000 to $600,000 range will follow.
The project will be constructed in phases and have a complete build-out in 10 years.
The city will provide DIG funds totaling up to $4 million in the three phases in the form of economic development loans to be used for construction of infrastructure.
If lots remain unsold by December 31, 2039, the developer will have to pay the remaining balances of the Phase 1A, 1B, and 2 loans.
The vote passed 4 to 1, with Mayor Bob Scott voting no, saying, “It's too much money per lot.”
Additionally, some residents came to thank council members Dan Moore, Alex Watters, and Matthew O’Kane, as this was their last meeting.
