Spencer, IA (KICD)– The City of Spencer finalized a deal that ultimately leads to a land swap with an adjoining property owner for the purpose of economic development.

The land being sought just north of Schoeneman’s Building Center has been in the middle of negotiations with Larry and Ielene Steffes for some time. The council ultimately voted five to one to approve the deal with Councilman Brian Balk sticking with his objections from previous discussion to become the sole no on the matter saying the numbers did not add up in his mind.

After approving the deal, the council went on to award a contract to build what will be known as West 24th Street on the property with Engineer Brian Schmidt indicating some success in those numbers.

The street construction project has a substantial completion date set for early September. It was recently made public that Dollar General will be constructing a new store on another section this land which is expected to be completed this Fall.