The demolition project where prices go up faster than buildings come down.
The original estimated cost of tearing down the Sinclair meatpacking plant was $7.366 million. Flooding, two fires and the presence of “mouldy corn” drove the price up to $15.3-million. But newspaper reports now suggest that the cost to tear down the former Sinclair meatpacking plant here has now gone over $20 million.
The latest addition to the demolition is the expected cost of $947,754 for an additional 123,085 cubic yards of dirt needed to fill the holes at the former plant site, according to Greg Eyerly, the city’s flood-recovery director.
The latest expense will bring the expected demolition cost to $20.99 million, 90 percent of which is being paid by the Federal Emergency Management Agency, 10 percent by the state of Iowa.
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