MARSHALLTOWN, Iowa —

The Marshalltown Mall is poised for transformation as it enters a tax increment financing (TIF) deal with the city, promising a brighter future for the struggling space.

The 20-year agreement will not exceed $7.25 million in TIF annually and mandates at least 70% occupancy, with restrictions on non-retail and self-storage uses. Developers have committed to investing nearly $43 million in the property to ensure the project's success.

Marshalltown Mayor Joel Greer emphasized the importance of the mall's redevelopment for the health of Marshalltown, noting that several stores have already signed on. Although he couldn't disclose specific businesses planning to move in, Greer expressed confidence in restoring the mall to its former glory, reminiscent of its bustling day

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