WATERLOO — A longtime Cedar Valley warehousing company has plans to expand near the Waterloo Regional Airport.
Standard Distribution Co., which already operates five locations in Cedar Falls and Waterloo, is planning to construct a new 50,000-square-foot warehouse and 26-acre “laydown” yard on the southwest corner of the airport’s property.
The City Council is scheduled to hold public hearings at 5:30 p.m. Monday in City Hall on a site plan and a development agreement, which would provide the property at no cost and 50 percent property tax rebates for the estimated $1.8 million project.
The site is located along Leversee Road, which serves as the city limits line with Cedar Falls, and will include two Chicago Central railroad spurs.
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Standard Distribution, a company founded in Waterloo in 1936, has a warehouse operation with railroad access in the Northern Cedar Falls Industrial Park, which is just west of the proposed Waterloo location.
The company is also preparing to expand its existing 285,000 square feet of space south of 317 Savannah Park Road in the original Cedar Falls Industrial Park.
The proposed Waterloo development agreement calls for the project to be substantially complete by the end of 2018. It includes an option for Standard Distribution to receive more land for a potential future expansion.
Meanwhile, the city is agreeing to construct the public railroad spur and extend utilities to serve both Standard Distribution and potential future developments on the western edge of the airport property.
Other scheduled council business includes a development agreement and sale of property on the northeast corner of Ansborough and Upton avenus for future development.
Village Creek Rentals would buy the land for $15,001 and would agree to build new homes at several locations and a 3,250-square-foot commercial building along Ansborough.