The Iowa City City Council will consider a resolution Tuesday approving an agreement between the city and Central Park LLC.

City developer Marc Moen formed Central Park, and the resolution would approve his redevelopment of 114 S. Dubuque St.

Moen requested $2.5 million in tax-incentive financing for the construction of a 14-story commercial and residential building. The estimated project construction cost is roughly $10.8 million.

According to city officials, the proposed redevelopment project meets the city’s economic-development process and policies.

Councilors will vote on the resolution during their next meeting, April 3.

— by Kristen East