City Council Minutes 2012 07 17 - Laserfiche WebLink

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City Council Meeting Minutes July 17, 2012 Page 6 of 12 the assessment did note copious amounts of animal feces and environmental hazards abatement would have to be done as part of the project. Council member Yamell echoed the wish for more time. She stated the elevator is important to the community and could be developed to make it great. This public money is dedicated for historic preservation and the question is should the bulk be used for one structure. She favored using these funds to help preserve the elevator. Council member Keany didn't want to see it torn down but wondered if spending $1.6 million dollars just to stabilize and having it not useable was the right thing for the City to do. The dollars to bring it to useable space are unknown. He commented he was leaning toward encouraging private development to accomplish the most beneficial use of the space. Mayor Muckle recognized the cost concern. He stressed the fund is specific for historic preservation. He thanked Mike Kranzdorf, Amterre and Erik Hartronft for having it under contract so a decision could be made. The elevator is an iconic structure representing Louisville's agricultural history and the citizen's approval of this historic preservation tax showed the desire to preserve such buildings. He wanted the City to acquire the building, take the risk of the stabilization and then look at working with a developer to accomplish preservation and possible economic development. He felt the dollars in the HPF would still support other projects and other monies should be available. Council member Loo stated the possibility of State money was not to be counted on. If the City owns the building, donors tend not to give to public entities and wanted Council to see $1.7 million as the number the City would have to fund. Council member Yamell agreed Council needed to look at the $1.7 million as the City monies needed. Council member Keany asked what the benefit would be if the building was stabilized and still had no purpose. Council member Yamell felt once it was stabilized it could be more attractive to private partnership. Council member Jasiak asked Economic Director DeJong if stabilized, would the elevator be more attractive for private development and if the RFP was distributed nationally. Economic Development Director DeJong thought stabilizing would make it less risky and more attractive to a developer. City Manager Fleming stated the Request for Proposal (RFP) was widely distributed to any who might have interest. Council member Keany asked Michael Kranzdorf if the building was stabilized would development still be a risk. Mr. Kranzdorf stated there still was a risk and was not clear how the stacked plank grain bins in the center of the building could be used. There was likely a need for the ability to add square footage and the project was likely not something a private developer would attempt if not for City assistance. Mayor Muckle called for further public comment.