Iowa officials consider helping Sullivan building

Published On: Jan 08 2013 06:42:35 AM CST   Updated On: Jan 08 2013 06:42:00 AM CST

Linn County officials in eastern Iowa are considering whether to support renovations of an old bank designed by renowned architect Louis Sullivan.

The Gazette reports county supervisors will meet Wednesday to formally consider developer Fred Timko's request for the Wells Fargo bank building in downtown Cedar Rapids. It has been vacant since a major flood in 2008.

Timko is requesting the county forgo its share of property taxes on the site's existing value for a decade. He has already been granted an exemption from property taxes on the improvement's added value.

The site has a $1.8 million assessed value.

The building was built in 1910 and designed by Sullivan. Timko wants to convert the space into upscale offices and a residential condominium.