Ellsworth Estates

Real estate signs clutter the corner of the Ellsworth Estates property at Rocksylvania Avenue and Talbott Street in this photo taken on June 14. The City of Iowa Falls is offering a low-interest loan to the developers who have been working to turn the former hospital into condominiums.

The Ellsworth Estates condominium developers will receive a $250,000 loan from the City of Iowa Falls' Revolving Loan Fund after the City Council voted unanimously to approve the deal at its Aug. 19 meeting.

The loan will be used by the Ellsworth Neighborhood Investment Group to complete five unfinished condos and get them on the market for sale. The loan was originally proposed to be interest free, but the council reconsidered and agreed on a 1.5 percent interest rate.

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