Historic Preservation Commission Agenda and Packet 2013 04 15

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Historic Preservation Commission Meeting Minutes March 18, 2013 Page 7 of 9 Hartronft stated they went in depth with a tax advisor about tax credits and they eventually run out before you can use them up, unless you are very wealthy and can benefit from the tax breaks. Howards stated they would probably sell off the tax credits at 50 cents on the dollar because they can’t use them. He said these are details that still need to be worked out. La Grave asked why shouldn’t the city move forward with the stabilization and then bring someone in through the RFP process. Howards stated there isn’t a developer out there who will work with the city on an exact amount to stabilize the structure. La Grave stated he didn’t imagine a developer being in charge of that aspect – it would more likely be an architect or an engineer. Stewart asked what is the benefit to have a developer involved in the first two phases. Nan Anderson, project architect, stated there is a process known as public private partnership that should begin in the beginning of a project so there is transparency all the way through. La Grave asked if it was cheaper to go this route. He stated he did not think so. Anderson stated there definitely is a risk but there are a lot of risks involved with this project. Stewart stated he believes that is the point, we are trying to determine when to hand off that risk. Discussion ensued as to the benefit of having a developer involved now or later. Watson stated if this project is poorly managed the HPF could run dry. Howards stated that is why our RFP is based on phases, so you could see the potential costs. Stewart stated this is a difficult decision but it is more apparent why a developer should be included from the beginning. He added he would rather pass forward a recommendation for process and not which team to choose. Watson recommends approving the hazmat cleanup to allow for people to go in to look at the building. He added he cannot recommend approval of the proposal as written because there are too many unknowns. Koertje asked if the commission was recommending a completely different process than what Council approved as direction for staff.