City Council Minutes 2013 08 20 - Laserfiche WebLink

Home Browse Search

City Council Meeting Minutes August 20, 2013 Page 15 of 23 The total Historic Preservation Fund outlay should this offer be executed is as follows: City Purchase -$ 950,000; Proceeds from sale ($200,000); Max Stabilization Funds $500,000 for a total of $1,250,000. In comparison the Old Town Group proposal was $2,125,000. Value of other financial considerations: Public Land Dedication $48,927; Rebate of Permit Fees and tax $35,000 and Rebate of Application Fees $3,635. The differences between Olde Town Group proposal and Louisville Mill Site offer are as follows: The obligated costs to the City are less; there is not a commitment to make the grain elevator structure habitable; there is not a commitment to redeveloping Lot 1 or Lot 3; the property boundary issues relating to the Caranci property are resolved; there is not an interest to construct a building along Front Street south of the Grain Elevator and the agreement would facilitate Caranci redeveloping the warehouse south of the Grain Elevator. The Historic Preservation Commission met on Monday, August 19, 2013 to consider the proposal. Some concerns were expressed from Commissioner Koertje. The concerns centered on the timing of landmarking the property; approval of the reimbursement for costs without Historic Preservation Commission and City Council approval; parking lot and landscaping be eligible costs (removed from agreement); interior improvements must follow Ballot Issue 2A (added to agreement); soft cost being eligible for reimbursement (no changes to the agreement). The proposal was approved by a vote of 6 -0. COUNCIL QUESTIONS Council member Loo asked if Amterre's previous reimbursements were considered soft cost and if so, were they paid out of the Historic Preservation Funds or the General Fund. It was noted those funds were reimbursed by the Historic Preservation Funds. Council member Loo asked if Old Town Group will be reimbursed by the Historic Preservation Funds. That decision has not been made yet. Council member Loo asked if parking and landscaping has been removed from the funding. Economic Development Director stated they were removed from the eligible costs for reimbursement, out of the $500,000. Mayor Muckle voiced his support for the concerns expressed by the Historic Preservation Commission. Economic Development Director DeJong reviewed the revisions to Resolution No. 44, Series 2013 as follows: Section 5. City Council hereby waives the cap limitations for grants for rehabilitating landmarked commercial property outlined in Resolution No. 2, Series 2012 for this agreement.