Des Moines officials are set to vote Monday on whether to schedule a public hearing for a new development agreement with the Krause Group, reviving a mixed‑use soccer stadium district proposal for the former Dico Inc. industrial site. The vote matters to residents because the project promises an 8,000‑seat (or 6,300‑seat, depending on the source) professional soccer stadium, a women’s team, environmental cleanup of an EPA Superfund site, and a global plaza for city festivals.
According to Hoodline, the council’s decision follows the city’s August announcement that it had ended seven years of negotiations with Krause Group after a new state property‑tax law projected a $12 million budget gap for fiscal year 2028 and a further $5 million shortfall the next year. City Manager Scott Sanders told Business Record that the revised terms would have Krause’s real‑estate arm purchase the Wabash parcel at market value and lease the Dico parcel at market value, saving taxpayers more than $20 million in city contributions compared with the earlier proposal.
The project’s backers cite a feasibility study estimating $8.8 billion in total economic activity over 20 years. Business Record also reported a $600 million total investment that could create 2,000 permanent jobs and 6,800 part‑time jobs. The Des Moines Register placed a $95 million price tag on an 8,000‑seat USL stadium, while Business Record described an approximately 6,300‑seat stadium for a United Soccer League franchise.
Funding commitments remain a point of variance. The Register noted more than $58 million in state, county and city contributions through the Iowa Soccer Development Foundation, a figure not echoed in other reports. Meanwhile, the city continues to honor a separate agreement with the Iowa Soccer Development Foundation, which remains unaffected by the renewed talks.
Competing interest is limited. A Hometown Holdings spokesperson told Business Record the company will not submit a proposal for the Dico site. The council is also weighing whether to open a competitive process for other developers, with proposals due by 4:30 p.m. on December 4. If a challenger is deemed worthy, its plan would go before the Urban Design Review Board on December 15, potentially pushing the public hearing on Krause’s plan to December 21.
Axios reported the city is also exploring an MLS NEXT Pro option tied to a team affiliated with Sporting Kansas City, giving Des Moines two distinct professional‑soccer pathways to consider.
What’s next: The council’s Monday vote will determine if a public hearing is set. Proposals from other developers are due by December 4, with a possible review board meeting on December 15 and a public hearing on Krause’s plan on December 21.
Sources: hoodline.com
