The Rundown – City to buy back undeveloped industrial land
Published on August 26, 2026
The Rundown is prepared by the City of Newton Communications Office to summarize the City Commission action and does not represent official Commission minutes.
7 p.m. Aug. 25, 2026, Newton City Commission meeting
At Tuesday’s meeting, the City Commission agreed to buy back about 10 acres of land at the northwest corner of East First and Oliver.
In April 2022, the City sold the property to 21 Albermarle for a national distribution center for Ben Franklin Stores. The company paid $8,000 per acre for the property and committed to constructing a 40,000-square-foot facility.
The purchase agreement said that if construction did not begin by May 1, 2025, the City would have the option to repurchase the property at the original sale price. In March of last year, the City granted the company a one-year extension.
A year later, company leadership said they would still like additional time to develop the property but do understand the City’s reversionary interest.
Buying back the property will allow the City to market it again for development, at a time when property near Newton City/County Airport is seeing increased activity and interest.
The Commission directed City staff to draft a purchase and sale agreement to consider at an upcoming meeting.
In other action, the City Commission:
- Conducted public hearings and adopted the 2027 budget with a 1.5-mill reduction in the tax rate.
- Updated the solid waste ordinance to include a fee for an extra requested trash pickup.
- Received the 2026 Annual Housing Development Report.
- Received the 2025 Annual Comprehensive Financial Report.
- Approved new asset disposal guidelines that allow City staff to donate or dispose of surplus items with a value under $100.
The full agenda packet and meeting video are available online.