[UPDATE] CBS2 is reporting that police have resolved the situation after determining the package was not a threat. After a bomb canine inspected the device, First Avenue has been reopened and emergency vehicles are clearing the area.
CBS2/FOX28 is reporting that the Cedar Rapids police bomb squad are investigating a suspicious item off First Avenue in downtown Cedar Rapids. A bomb robot investigated an area outside of the Cedar Rapids Day School.

Children are inside, but Cedar Rapids police have informed CBS2 that "buses are being lined up to evacuate the kids safely from the area".

We will keep you posted with updates as this story progresses.