A land deal in Iowa City, involving the city and a credit union is the focus of a legal battle.
A group of area residents, calling the project a "sweetheart" deal for the University of Iowa Community Credit Union, wants to block a project that would have the city sell 24 acres to the $1.1 billion credit union for $1. The credit union is planning to build its headquarters on the site. The structure is expected to anchor a major commercial and residential development.
The group claims that a quasi-private entity created to develop the project did not broker the land deal properly.All parties will file briefs in the next month and then a judge will decide on a permanent injunction.
