SPENCER, IA (Northwestiowanow) – The City of Spencer is moving forward with a major land transaction intended to support long-term flood recovery efforts and future housing needs.

The initiative is the result of a collaboration between the City of Spencer, the Clay County Fair Association, and the Spencer Economic Development Corporation (SEDC).

Under the plan, SEDC will acquire several residential lots on the east side of the Clay County Fair’s Silver Lot, specifically the parcels located east of 3rd Avenue West. Most of the Silver Lot will remain under Fair ownership, and officials emphasize that parking and operations for the 2026 Clay County Fair and future fairs will not be affected.

The project includes construction of nine single-family homes designated for low- or moderate-income households. The planned housing would support continued recovery nearly two years after the devastating June 2024 flooding.

The acquisition is tied to a potential disaster-recovery housing project that would be funded through Community Development Block Grant–Disaster Recovery dollars. If funding is secured, the City of Spencer would administer the program. No city funds will be used for the land purchase, and the transaction comes at no cost to the City.

SEDC has worked closely with the Fair Association to ensure the proposal meets community needs, aligns with long-term development goals, and supports the city’s effort to expand affordable housing options. The location offers access to nearby trails, the Fairgrounds, and other local amenities while advancing broader flood recovery strategies.

Additional information will be released as funding decisions are made and planning progresses. Once the land sale is finalized, SEDC will serve as the primary point of contact for the development.