On the agenda

1. 2

   Approval of August 2, 2022 CRA Meeting Minutes

   approved

   The CRA Board approved the minutes from the August 2, 2022 CRA meeting.

   • motion:Approve the August 2, 2022 CRA Meeting Minutes. (passed)

   #August 2, 2022 CRA Meeting Minutes

   ▶ Jump to 0:00 in the video

   ▸Show transcriptHide transcript

   Auto-transcript · machine-generated, may contain errors

   [00:00:00] Move approval. Second. Any discussion? Hearing none, all those in favor please [00:00:05] signify by saying aye. Aye. Opposed, like sign. Motion passes. Next is Resolution

   This text was generated automatically from the meeting video. It is not a verbatim or official record. For exact wording, consult the video or the city clerk.

2. 3

   ↳You arrived here from a search for “Mike” — transcript expanded below

   Resolution No. 2022-21: Approval of FY2022-2023 CRA Operating Budget & Capital Projects

   approved

   The CRA Board adopted Resolution 2022-21, approving the FY2022-2023 CRA operating budget and capital projects with total revenues of $8,569,980 and capital projects totaling $3,380,000, including downtown area improvements funded largely by ARPA funds. Board members expressed concern about slow execution of prior-year capital projects and asked for more active board involvement going forward.

   Ord. Resolution No. 2022-21

   • motion:Approve Resolution 2022-21 adopting the FY2022-2023 CRA operating budget and five-year work program. (passed)

   🏢Comfort Inn🏢Kaiser University👤Councilman Altman👤Mike👤Mr. Driscoll👤Mrs. Dunn👤Mrs. Feast#2020 Series parking garage note#American Rescue Plan Act (ARPA) funds#Downtown Area Improvements#FY2022-2023 CRA Operating Budget#Five-Year Work Program#Marine Parkway Pedestrian Bridge#Molnar report#Property Assemblage Program#Resolution 2022-21#Series 2016 refunding note#Streetscape Improvement Project#Trolley program#U.S. Highway 19 Main Street Gateway project

   ▶ Jump to 0:10 in the video

   ▸Show transcriptHide transcript

   Auto-transcript · machine-generated, may contain errors

   [00:00:11] 22-21, Approval of the Fiscal Year 22-23 CRA Operating Budget and Capital [00:00:19] Projects. Mr. Driscoll. This is Resolution number 20-22-21, a resolution of the City [00:00:25] of New Port Richey Florida Community Redevelopment Agency, a public body [00:00:29] corporate and politic, adopting the 2022-2023 operating budget, adopting the [00:00:34] 2022-2023 five-year work program for the Community Redevelopment Agency of the [00:00:39] City of New Port Richey Florida and providing an effective date. [00:00:44] Thank you. Mrs. Dunn and Mrs. Feast have worked on this together and they're [00:00:54] prepared to make a short presentation to you this evening on the Community [00:01:01] Redevelopment Agency budget. As I'm sure you'll recall from previous years, the [00:01:08] largest contributor to this fund is the City of New Port Richey from our general [00:01:15] fund and and I'll with that allow Mrs. Dunn to start the presentation. Mrs. [00:01:23] Feast will do the presentation part. Thank you. Mike, do you have this PowerPoint up? [00:01:33] All right, thank you. I will provide you with an overview of the fiscal year [00:01:40] 2022-2023 proposed budget that you will, that's being recommended for adoption [00:01:47] tonight. Next slide please. I'll start with the organizational chart for the [00:01:52] CRA. The CRA includes 25% of the city manager's time that's dedicated to the [00:02:02] CRA. Those expenses are charged to the CRA directly and then it also houses one [00:02:10] full-time marketing manager position. So those in essence are the two positions [00:02:14] that are included in the CRA fund. Next slide please. [00:02:20] Total revenues being proposed tonight are $8,569,980 [00:02:27] which includes tax increment from the county at $2,867,870 [00:02:33] and that was calculated using the [00:02:38] county's operating millage of 7.6076 mills. We also have $2,203,000 [00:02:47] of American Rescue Plan funds budgeted for use next fiscal year and those funds [00:02:55] are dedicated to downtown area improvements totaling $1,853,000 [00:03:02] and then business assistant grants and loans totaling $350,000. We also have [00:03:10] $200,000 expected on surplus land sales and a transfer of tax increment funding [00:03:17] from the general fund totaling $3,204,280 [00:03:22] and that was calculated using the just adopted 8.45 [00:03:26] mills. And then finally we were using the surplus of fund balance totaling [00:03:33] $94,830. Next slide please. [00:03:42] Now I'll go over the expenditures being proposed tonight starting with personnel [00:03:47] and you'll see that total personnel costs are $161,150 [00:03:54] and that includes the two positions that I just finished going over along with [00:04:00] health and other fringe benefits. I want to point out significant differences from [00:04:12] the fiscal year 21-22 amended budget and the only one that stands out to me is [00:04:19] the part-time wages. Those positions include the part-time shuttle drivers [00:04:24] for our trolley program and those have been moved to a separate maintenance [00:04:34] parking garage maintenance division. So those are housed there for fiscal year [00:04:38] 22-23. Next slide please. Next category is operating and you'll see [00:04:46] that it totals $2,113,780. I've highlighted four line items that changed significantly from the previous fiscal year's amended budget. [00:05:02] Starting with ads and marketing. We've obligated an additional $50,000 to go [00:05:10] toward marketing compared to last year. In our redevelopment incentives, the [00:05:17] number obligated for this category did go down compared to last year, but it's [00:05:24] still coming in at $1 million and those funds will be dedicated to grants and [00:05:28] loans and tax and or fee waiver rebates. The next line item that changed [00:05:36] significantly is property assemblage. We're obligating $800,000 for that [00:05:42] category and there aren't specific properties in mind at this point that [00:05:47] have been approved by Council, but we've dedicated those funds to go toward that [00:05:53] program when and if they do come about. [00:05:58] The last category that changed from last year are our program costs for the [00:06:03] parking garage. And again, nothing's budgeted for next fiscal year in the CRA [00:06:08] fund because they've been moved to our parking garage maintenance fund. Next [00:06:13] slide please. The next category is capital projects, which totals $3,380,000. [00:06:24] And the two, three programs that we have for next year include the downtown area [00:06:31] improvements, $2,925,000, which is primarily funded by our ARPA funds. We [00:06:39] have $75,000 dedicated to the streetscape improvement project and $380,000 [00:06:47] dedicated to the U.S. Highway 19 Main Street Gateway project. Next slide please. [00:06:55] And the final slide provides you with a summary of the transfers for the CRA. And [00:07:01] those total $2,915,050. Going in order from the top, the CRA does [00:07:11] transfer funds back into the general fund to cover administrative services [00:07:16] provided by the general fund. And for next year that totals $303,520. [00:07:22] And then it also will transfer back to the general fund $196,000 to cover the [00:07:30] parking garage maintenance. I will note that this $196,000 will be offset by [00:07:38] contributions from Kaiser University and Comfort Inn once the agreements are [00:07:44] established. So that, you know, the net effect of that will be reduced to [00:07:50] maintain the garage. So those contributions will go right back into [00:07:54] the CRA fund. The next transfer is to the general debt service fund and that's [00:08:00] $1,796,220. And that's to cover the debt service requirements for the [00:08:06] series 2016 refunding note and the 2020 series parking garage note. And then [00:08:14] finally the last transfer is to repay the general fund for CRA loan that [00:08:21] happened years ago. The CRA is now making annual repayments back to the [00:08:31] general fund to repay that debt. And next year it's budgeted for $619,310. [00:08:37] And that payment is on an amortization schedule and so it's a fixed payment in [00:08:44] annually until the total amount is repaid back. And that will do it for the [00:08:52] summary of the CRA. I will take any questions that you may have. [00:08:56] Questions? Hearing none, I will open this up for public comment. Seeing no one come [00:09:05] forward, I'll bring it back to the CRA. [00:09:13] I would like to comment just about a few things. And as we've got our [00:09:22] budget, our proposed budget books, just from a business standpoint, when we [00:09:30] look at the services from administrative and support for this [00:09:37] agency, I'd like to take a second to look back at the capital budget and estimated [00:09:45] budget. So it was commented before that we have American Rescue Plan Act funds [00:09:51] that we had allocated, have collected, probably I'm guessing at this point we [00:09:55] collected all of the funds from the two-year period. And when you look at the [00:10:02] downtown area improvements, last fiscal year the budget was for $775,000, of which [00:10:08] $25,000 was used. And in addition, the Highway 19 Main Street Gateway [00:10:16] project was budgeted for $280,000, of which $20,000 was used. And, you know, [00:10:25] we always make the debt service payments, we're paying administrative [00:10:29] services, and we are meeting rarely. So I'll just repeat the request that I have [00:10:38] that this board activate itself and keep on top of these projects as they come [00:10:44] forward, participate in those discussions, and have some kind of sense [00:10:49] of deliverables that we can express. You know, those rescue funds were meant to [00:10:54] help folks that were impacted and businesses that were impacted by COVID. [00:10:59] So, you know, if they couldn't make it till now, we certainly haven't put those [00:11:07] projects into place. And I know that we have some exciting plans. I'm looking [00:11:13] forward to what we may do. I was very excited about the Molnar report. I'd [00:11:18] love very much for us to review that, review our CRA plan. I know we're working [00:11:22] on updating that CRA plan. So now we're... we've got lots of funds, and as a board, [00:11:30] I'd just like to have my... play my one-fifth role in participating in [00:11:37] marshalling those projects through. So I'm hopeful that we won't see that we [00:11:44] don't perform in our capital improvements while we're continuing to [00:11:52] build this agency, which just isn't meeting nearly enough to be able to [00:11:57] accomplish the goals. Thank you. To the second? So I would agree with Councilman Altman [00:12:04] that I'm looking forward to, you know, the plans we put together that we'll be [00:12:09] reviewing for the CRA, and that, you know, a lot of these particular capital [00:12:16] improvement projects take some time to materialize and, you know, love to just, [00:12:23] you know, just how long does it take to build a house these days, right, from [00:12:26] approval to completion. So I'm very hopeful that many of these will get [00:12:33] started and going. I know that we... part of this approval is the five-year [00:12:39] improvement program as well, am I correct? So I'd be very much interested in [00:12:43] reviewing that, particularly when we start seeing upwards of the five years [00:12:48] plan of, you know, over ten million dollars for a marine parkway pedestrian [00:12:55] bridge, to just to see if the plans for that would really benefit our residents [00:13:02] to that degree, as opposed to maybe some other projects. So I'm very [00:13:06] much interested in working with the CRA as we develop plans going forward. [00:13:13] I don't have anything to add. I mean, I agree with that, too. We have a lot of projects coming up. [00:13:18] Let's hope that we can move a little bit faster this year on them. I know that there have been a lot of [00:13:23] challenges with even, like you say, building supplies. I mean, there's a lot [00:13:28] of challenges, but hopefully we're straightening some of that out moving forward. [00:13:32] I agree with my colleagues on all their comments. I look at all the [00:13:37] projects and things that we have coming up, and I get excited. People talk [00:13:42] all the time, and they're like, man, it looks so great here, and I go, wait till [00:13:46] the next five years. And they're like, really? And I start rattling off stuff. [00:13:49] They're like, wow, it just blows them away. So, I mean, we're really doing, you know, [00:13:53] people do notice, and I'm looking forward to what we've got coming. [00:13:59] I think all of us would love to see some of these coming to completion, so looking [00:14:08] forward to it. Any further discussion? Hearing none, all those in favor, please [00:14:13] signify by saying aye. Aye. Opposed, like sign. Motion passes. Next is a request for

   This text was generated automatically from the meeting video. It is not a verbatim or official record. For exact wording, consult the video or the city clerk.

3. 4

   Request for Extension on Performance Agreement for Central Orange Partners, LLC

   approved

   The CRA Board approved a request from Frank Starkey of Central Orange Partners, LLC to extend the performance agreement timeframes for phases 2 and 3 of The Central project. Phase 2 must begin by December 31, 2022 and be completed by December 31, 2024; phase 3 must begin by January 21, 2024 and be completed by December 31, 2024. The extension was justified by COVID-19 and construction industry disruptions.

   • motion:Approve the extension of the performance agreement with Central Orange Partners, LLC, extending phase 2 to start by Dec 31, 2022 and complete by Dec 31, 2024, and phase 3 to start by Jan 21, 2024 and complete by Dec 31, 2024. (passed)

   🏢Central Orange Partners, LLC👤Frank Starkey#Performance Agreement (originally executed January 2019)#The Central project

   ▶ Jump to 14:14 in the video

   ▸Show transcriptHide transcript

   Auto-transcript · machine-generated, may contain errors

   [00:14:20] extension on performance agreement for Central Orange Partners. Yes, sir. [00:14:35] Earlier this year, Mr. Frank Starkey, on behalf of Central Orange Partners, LLC, [00:14:44] submitted a request to the Community Redevelopment Agency to amend one of the [00:14:52] provisions of a performance agreement that was originally entered into in [00:14:58] January. [00:15:00] of 2019 and the performance agreement related to the implementation of the [00:15:09] project which ultimately was named the central and it was proposed to be [00:15:16] implemented in three different phases and the first phase of the project has [00:15:23] been implemented and the subsequent phase two and three are yet to be [00:15:31] implemented and specifically what Mr. Starkey is requesting is that the [00:15:38] timeframe by which phase two and three be implemented be amended. The reason [00:15:49] that he is asking for an amendment in the time frame is because quite frankly [00:15:58] the construction time frame has been impacted by both the COVID-19 pandemic [00:16:09] as well as the resultant disruptions in the construction industry and the [00:16:21] specific request of Mr. Starkey is that phase two would begin no later than [00:16:30] December 31st of 2022 with construction completed by December 31st of 2024 [00:16:40] thereby allowing an additional 11 months for the project to be completed and [00:16:52] phase three would be extended until January 21st of 2000 I'm sorry it would [00:17:03] be started by the 21st of 2024 to December 31st of 2024 and the agreement [00:17:18] in that regard has been drafted for your consideration or an agreement has [00:17:29] been drafted in that regard if this arrangement is acceptable to you what [00:17:37] we've attached to your agenda item is the original performance agreement and [00:17:45] Mr. Starkey's original extension to request the extension on the performance [00:17:53] agreement from the staff's request review of the matter we find that the [00:18:04] reasons that that he is indicating are sufficient to justify and warrant [00:18:14] completely an extension in the terms of the performance agreement as indicated [00:18:20] in our contract the extension cannot be unreasonably withheld and we do not feel [00:18:30] it would be reasonable based on the conditions in the market to not go [00:18:37] forward with an extension at this time thank you [00:18:40] open up for public comment seeing no one come forward bring it back to the [00:18:45] CRA approval to the maker yes I mean there's no doubt that everything has [00:18:54] taken longer and impact on the economy has been felt throughout there's also no [00:19:01] doubt that that improvement has helped to spur pedestrian activity and life on [00:19:07] the city's as we just saw with the walk the wine walk I'm sure a few of those [00:19:13] folks came from that building and I'm sure that everyone is excited to see [00:19:18] folks out walking on the street and some there in a day different time so the [00:19:25] plan is working and the excitement is there has been mentioned before and the [00:19:30] large part it's due to honoring the age-old redevelopment rule that [00:19:37] downtown's need density in order to have that pedestrian traffic start and [00:19:43] support business so I think it's a good project look forward to it second I [00:19:49] agree I think it's a benefit to us in our downtown area and like everyone else [00:19:54] everything's behind in materials and in construction so Peters yeah sometimes it [00:20:02] takes a little time to do things right and so that's that's important I just [00:20:06] had a question just trying to understand the phase 2 and phase 3 so I understand [00:20:14] correctly we are going to be extending phase 2 to start no later than December [00:20:18] of this year is that right 22 and that would be [00:20:21] completed by December of 24 so actually it's just an 11-month period for both [00:20:27] phase 2 and phase and that's what I was saying it's like face phase 3 would be [00:20:31] ending in the same time as phase 2 because they're both shown to be ending [00:20:34] it in December 24 okay that's correct so yeah looks like there's some activity [00:20:40] already begun on that property so in essence I was already started but it [00:20:45] looks like it's getting set up so that if the developer soda chooses they will [00:20:50] complete as possible phase 2 and phase 3 get completed at the same time sounds [00:20:56] like yeah it might be additionally appropriate to note that phase 1 of the [00:21:01] project has been completely leased since January of 21 and that the new activity [00:21:07] at phase 2 has already generated interest and we're fielding phone calls [00:21:12] from people that want to know when the units will be available already good [00:21:15] problem to have looking forward to the end product love seeing dirt getting [00:21:25] turned over there and come out of the ground before you know it so there's no [00:21:31] further discussion all those in favor please signify by saying aye opposed [00:21:36] like sign motion passes next is a memorandum of understanding with Newport

   This text was generated automatically from the meeting video. It is not a verbatim or official record. For exact wording, consult the video or the city clerk.

4. 5

   Memorandum of Understanding with New Port Richey Main Street, Inc.

   approved

   The CRA Board approved a Memorandum of Understanding with New Port Richey Main Street, Inc. for the annual $25,000 reimbursement, declining Main Street's request for an $8,000 increase. Board members expressed support for the program but said they want to see a strategic plan and track record from the new executive director before considering additional funding, with openness to revisiting mid-year.

   • motion:Motion to authorize the executive director to enter into a Memorandum of Understanding with New Port Richey Main Street, Inc. for $25,000, with the expectation that Main Street return to present their strategic plan and performance. (passed)

   🏢National Main Street program🏢New Port Richey Main Street, Inc.👤Murphy👤Sarah Nielsen#American Rescue Funds#Cultural Affairs Committee funding#Main Street four-point program

   ▶ Jump to 21:41 in the video

   ▸Show transcriptHide transcript

   Auto-transcript · machine-generated, may contain errors

   [00:21:42] Ritchie Main Street Inc yes the request before you this evening is to authorize [00:21:49] the executive director to enter into a memorandum of understanding with New Port Richey Main Street the agenda item is something that we do annually and our [00:22:05] and for the last few years in fact I think the last three years our [00:22:12] appropriation to the Main Street program has been in the amount of $25,000 and we [00:22:20] have established performance standards by which they must maintain in order to [00:22:32] achieve that $25,000 reimbursement from the Community Redevelopment Agency they [00:22:43] have had their challenges so to speak over the course of the last three years [00:22:50] in large part due to the fact that they have had different executive directors [00:23:00] in place running the program in recent weeks they have asked for an increase in [00:23:14] funding of $8,000 from my perspective I didn't think it was appropriate based on [00:23:23] the fact that their performance as it relates to the four-point program of the [00:23:32] National Main Street program has has somewhat not been as consistent as would [00:23:47] I would like to see and and their new Main Street director comes without any [00:23:54] Main Street experience I think that perhaps it might be an appropriate [00:24:02] question at some point in the future but at this point I didn't feel [00:24:08] comfortable providing an additional $8,000 worth of funding to them at this [00:24:14] time so I'm not recommending that we increase their funding we did put it in [00:24:19] the budget for $25,000 and I'm recommending that we stick with our [00:24:23] original recommendation open up for public comment seeing no one coming [00:24:31] forward I'll bring it back to the chair I'll make a motion to put the $25,000 in [00:24:50] the agreement however I would like the opportunity to have them come to us and [00:24:57] review their situation this is a budget it's always to be amended but I think it [00:25:03] can start from this standpoint of strength that has been suggested at the [00:25:12] same time I think we need to put the same level of scrutiny in terms of [00:25:18] performance as example I see our it looks like our marketing position is [00:25:23] paid at 60 some $65,000 salary or cost per salary for our marketing and I've [00:25:30] not heard or seen much in terms of deliverables progress where we're at so [00:25:38] again we're firing up a multi-million dollar you know initiative here and we [00:25:44] were and we're going to need you know the strength of everybody I don't want [00:25:49] to chase that group away they had a good event last weekend but we need to [00:25:55] hear from them I think before before I would entertain my amending it do we [00:26:01] have a second a second I'm sorry mr. Murphy yeah as I said I'm looking [00:26:07] forward to revisiting this next year it's kind of a vicious circle you know [00:26:11] to get someone that's really qualified and really in depth with the program you [00:26:16] know they're coming looking for a little more money so and then you don't [00:26:20] have the money to pay him you don't always get the best best candidates it's [00:26:24] kind of the way it works but I do think that I'm sure Sarah Nielsen who they [00:26:29] just hired she I've been I've been very impressed with her and she's really been [00:26:33] out there and getting things done and working good so I'm looking forward to [00:26:37] seeing what she does this year and I hope the next year we can revisit this [00:26:40] and you know maybe do them a little bit better but I'll go along with it [00:26:49] yeah mayor thank you you know I'm really a big believer and supporter of Main [00:26:55] Street I think there's folks that serve on the board and in working organization [00:27:01] are are very for the most part are very dedicated and hard-working individuals [00:27:09] and in those people those folks that work on there there's no they get no [00:27:14] salary no payment for that the only is is the executive director that we're [00:27:18] talking about and so you know I guess you know my my thinking is it's you know [00:27:28] is that I'm not really ready to really judge the performance of Main Street [00:27:35] other than my gut feelings what I've seen and so forth and I'd like to and I [00:27:40] wish they had been here today to give us a little bit of sales pitch on this [00:27:43] thing but I'd like to see you know you may be a strategic plan they have on [00:27:50] hitting those items and really what they plan to do and give us an idea of you [00:27:57] know what what kind of things to expect and you know I'd be willing to revisit [00:28:01] this again even prior to the next year [00:28:06] I agree that's what I was going to say I mean I think Sarah's doing a good job [00:28:08] but she really hasn't been here long enough to evaluate what she's doing so to increase the salary right now I think that we need to to see them present what their strategic plan is and what they plan to do moving forward but I'm not opposed to mid-year [00:28:25] next year's less than you know four or five months. Nice move. I have seen some positive indications but as has been mentioned we haven't seen with the current folks a whole lot of track record and the Main Street program has struggled for pretty much as long as I can [00:28:52] remember not the least of which has been turnover on the executive director [00:28:58] level but the young lady that's their executive right now appears to be [00:29:07] whipping them into shape so if they would come want to come back in six [00:29:14] months or so you know I'd entertain reopening it but I agree with staff's [00:29:20] recommendation at this point I don't think we've got enough track record to [00:29:23] justify just increasing the budget at this point. Mr. Mayor if I could just make [00:29:28] one final point not to belabor it but the city does provide [00:29:34] additional support to the Main Street program in terms of funding from the [00:29:40] Cultural Affairs Committee as well as the American Rescue funds are being [00:29:46] programmed to support some of the expenditures that they're showing in [00:29:51] their budget so they actually could give their executive director a raise out of [00:30:00] the final Friday budgeted items that they have listed as expensive that the [00:30:07] city has actually said that they would pay for out of our American Rescue [00:30:10] Funds. Any further discussion? Hearing none, all those in favor please signify [00:30:17] by saying aye. Aye. Opposed like sign. Motion passes. Next is a request to [00:30:23] authorize a letter of intent to purchase property located at 6128 [00:30:28] US Highway 19. As I'm sure you are all aware I've been provided direction by [00:30:39] you to try to acquire the property located at 6128 US Highway 19 which is [00:30:49] the former location of the SunTrust building and that has been an ongoing

   This text was generated automatically from the meeting video. It is not a verbatim or official record. For exact wording, consult the video or the city clerk.

5. 6

   Request to Authorize a Letter of Intent to Purchase Property Located at 6128 U.S. Highway 19

   approved

   The CRA Executive Director requested authority to issue a Letter of Intent to Madison Marquette to purchase the former Truist property at 6128 U.S. Highway 19 for $2.8 million, with $280,000 due upon execution of a purchase agreement and closing within 90 days. The property (2.18 acres, 21,172 sq ft building) would be combined with the adjoining River Road Church property and offered via RFP to developers within 60-90 days of acquisition. The board moved to approve the letter of intent.

   • motion:Authorize the Executive Director to issue a Letter of Intent to Madison Marquette to purchase 6128 U.S. Highway 19 for $2.8 million, with $280,000 upon execution and closing within 90 days. (passed)

   📍6128 U.S. Highway 19📍River Road Church property📍River Road and Acorn🏢Kaiser University🏢Madison Marquette🏢River Road Church🏢Tampa Bay Water🏢Truist🏢U-Haul👤Councilman Alvin#Future RFP for redevelopment of Truist + River Road Church properties#Inundation Park / stormwater grant ($800,000 capital improvement plan match)#Letter of Intent to Purchase 6128 U.S. Highway 19#Resilience funds grant

   ▶ Jump to 30:56 in the video

   ▸Show transcriptHide transcript

   Auto-transcript · machine-generated, may contain errors

   [00:30:58] project as it relates to the redevelopment of that quadrant of the [00:31:08] city at 19 and Main Street the southeast quadrant. The property is 2.18 acres in [00:31:17] size. The building is 21,172 square feet. The last time this item was in front of [00:31:29] you I asked for the authority to purchase the building in the amount of [00:31:37] $2,200,000 and the property was under the control of Madison Marquette who is [00:31:49] an investment firm that purchased the property from Truist and that offer was [00:31:58] rejected by Madison Marquette who indicated that they wanted to test the [00:32:05] local market before accepting any offers on the property and indicated to [00:32:13] me that they would like to list the property with a commercial real estate [00:32:18] agent at least for 45 days before accepting an offer. My base offer had [00:32:27] been established based or had been established with reference to an [00:32:36] appraisal that was conducted in November of 2021 and the appraisal report had [00:32:43] concluded a market value of $2,000,000 and seven months had lapsed since that [00:32:52] report had been concluded so I bumped it up just a couple hundred thousand so [00:32:57] I might have been a bit low in the number but I I wanted to try that as a [00:33:03] first first toss. In any event there have been several interested parties in the [00:33:15] property and since our interest is strong in the property I think we need [00:33:21] to come in with a competitive offer if we truly want to redevelop that piece of [00:33:27] property and I think that we do. My recommendation is that we offer $2.8 [00:33:36] million for the property and under the terms that payment of $280,000 [00:33:47] be made to Madison Marquette upon the successful execution of a purchase [00:33:53] agreement that the CRA be prepared to close on the property within 90 days of [00:34:00] the execution of a purchase agreement and then of course that the remaining [00:34:06] balance be paid at the time of closing. The piece of information that I want to [00:34:16] make clear is that the city would be prepared to let a request for [00:34:25] proposal within 60 to 90 days of having property control and we would be letting [00:34:35] that proposal to developers interested in establishing a reuse on the former [00:34:46] Truist property and the River Road Church property which is a make which [00:34:52] adjoins the property immediately to the east. The likelihood that we would find [00:35:00] responsive bidders is very high based on the fact that we have developers [00:35:05] currently interested in the property. The price that the city or the CRA that [00:35:20] I'm recommending the CRA pay for the property I believe would be recouped as [00:35:27] part of a sale of the property to potential developers of the property and [00:35:37] there are two different ways that this property purchase could be achieved and [00:35:47] in the communication to you in respect to this item I outlined them both. One of [00:35:54] which is if it's a short-term holding then I would recommend use of water and [00:36:02] sewer funds until such time as the property could be transferred into the [00:36:08] hands of an unknown developer at this time. If it has to be retained for a [00:36:16] longer period of time then I would recommend that we would need to sell [00:36:20] bonds in order to close on the property and at this point we don't know that [00:36:27] because we don't know enough about the future development of the property but [00:36:32] those are two mechanisms that we could rely on to achieve property control and [00:36:38] they're both available to us and as your executive director I am asking for the [00:36:45] authority to release a letter of intent to Madison Marquette for a purchase in [00:36:53] the amount of 2.8 million dollars for the property. Thank you. Open it up for [00:36:58] public comment. Seeing no one come forward bring it back to the CRA. We'll [00:37:04] move for approval. Second. To the maker. Yes this is a key intersection the [00:37:13] entrance to our downtown we've talked about it for a long time you know when [00:37:18] the capital improvement plan was presented it included $800,000 as part [00:37:25] of what is the inundation park which is part of the Baptist or the church [00:37:36] property that's there and in the description for that grant I believe the [00:37:42] anticipation was that that would provide stormwater drainage and an [00:37:46] amenity for development that would be as this as our executive director has [00:37:51] suggested part of a strategic you know redevelopment plan so for that matter I [00:37:59] support it when it comes to where the money would come I would suggest that we [00:38:03] could also look into that $800,000 matching portion of that grant because [00:38:11] some of that land would be used for that park and all of it wouldn't have [00:38:15] to be borrowed so you know to the degree we were the successful bidder we would [00:38:22] be produced you know that other $800,000 go a long way towards site [00:38:26] preparation so I think any outside developer would be smart to try to work [00:38:31] with the city that has the potential for incentives that knows what it wants to [00:38:35] do there versus someone coming in and deciding to go in and build something [00:38:40] that is not part of our strategy because they wouldn't get the benefit of all [00:38:46] those things necessarily because incentives are for folks to do what's in [00:38:52] our plan and what we would like to see happen so I'm I trust in your [00:38:59] recommendation that we we can find partners that will help us to develop [00:39:06] that in an exciting way so that's why I'm made the motion thank you to the [00:39:11] second Thank You mayor the councilman Alvin make some great points there this [00:39:19] you know this little little over two acres 2.1 acres and and that's about the [00:39:26] size of the church property we own that would have that would have joined this [00:39:30] making it now well over a four acre parcel of land and and with that size [00:39:37] comes you know leverage that you know that a developer you know that has some [00:39:42] really space to do something and you look around the city and you know where [00:39:46] else can we accumulate a four acre parcel for for development that [00:39:51] particularly has some you know us-19 frontage and some other you know there's [00:39:56] there's all kinds of things that can be utilized there and and I think this is [00:40:04] a step we've already invested heavily in this location you think about the [00:40:08] incentives we've we've used the Kaiser University here we have the we have a [00:40:14] parking structure there we have a hotel that's going to be completed by the end [00:40:17] of end of next summer right and so we have and then next there's you know we [00:40:23] got some storage facility that that's probably not going to go anywhere anytime [00:40:27] soon it's but I think it really is an opportunity for us to seize control so [00:40:35] to speak of what will go there and I think we can I think that with with the [00:40:41] experience I've seen our city manager work with developers they can steer and [00:40:46] select the right one to to get the right project I have full faith that that that [00:40:51] can happen and we just don't have a lot of other areas in the city where we can [00:40:56] really you know charge ahead with redevelopment of course we have the [00:41:00] community church or the community hospital property that we that hopefully [00:41:04] we'll do something with but we you know we don't have all that much space within [00:41:08] our city to to do redevelopment projects like this and so I see us you know that [00:41:15] this would be a stepping stone to kind of move that whole quadrant over towards [00:41:19] Main Street and redevelopment there as well we it would be hard for us to do [00:41:26] redevelopment going east through all the residential areas we have but I think [00:41:30] this would very come very well with the right project would complement that [00:41:35] whole redevelopment of that corner of the entrance of our city so I'm excited [00:41:41] that that this possibly could could be in front of us and I fully support it [00:41:47] for that reason I agree I think that having control over what goes in there [00:41:54] is going to be a big benefit to us since it is right by our entryway to our city [00:41:58] I think that we need to make sure that what goes there is something that is [00:42:02] going to improve the look of our city improve the economic growth of our it's [00:42:10] it's been an area that need to be redeveloped for a very long time and you [00:42:15] know have control that obviously we can we can cater to what our citizens needs [00:42:20] are in the area not only to the north hope it hoping it spurs you know [00:42:25] redevelopment but to the south too we've had some you know blight down there I [00:42:29] think it was I can't remember what bank it was we had to knock down the teller [00:42:33] building because of you know disrepair and that kind of thing so hopefully going [00:42:38] south down River Road too it'll spur development down that way and help you [00:42:43] know redevelop the whole you know whole River Road on the on the south side so [00:42:47] looking forward to it I think the key is that neither one of these properties by [00:42:54] themselves are that exciting but you put both of the properties together there is [00:42:58] an opportunity to do something transformative and so I am also [00:43:05] supportive of the city attempting to get control of it so that we can combine the [00:43:10] two properties and get something really nice but there any further discussion [00:43:17] mr. mayor just something that cropped up on the discussion of the U-Haul or the [00:43:23] storage facility Barrett go had some time ago before the city put the [00:43:30] application in for the grant that we received from the resilience funds [00:43:36] provided a map that showed the outfalls into the river and the initial design [00:43:42] showed the outfall from this retention pond going River Road up to Acorn I [00:43:51] think and then out into the river at that point about a third of the distance [00:43:57] to the south is another outfall and the U-Haul owner of that property has [00:44:07] expressed a desire to be able to expand on some of its site as it as it they go [00:44:16] all the way to River Road and they have their own retention pond there so I while [00:44:21] we're doing this investigation on this and I'm hopeful that the that has been [00:44:28] mentioned us being sort of the master planner of the site and taking a role in [00:44:32] it that we would continue to look at ways that we might use more money on the [00:44:37] site and less in the disruption of the traffic on River Road and particularly as [00:44:43] it gets close to the light there so I think there's another channel it wasn't [00:44:49] used in the grant because it wasn't owned by the city and didn't have the [00:44:53] right to write down and say we're going to do this but I think that you have a [00:44:57] interested and willing [00:45:00] regional director of U-Haul who's expressed an interest who could also be [00:45:05] tempted to make improvements on their own property and also improve the tax [00:45:09] base, which is our goal. Speaking of the tax base, also reflect on the [00:45:16] unused parking lot that is adjacent that's owned by the church that is [00:45:22] functional there near the corner and the redevelopment strategy of working [00:45:30] with the faith-based communities to acquire land and provide them all of the [00:45:37] assurances. Sort of like when the city gave Tampa Bay water, sold Tampa Bay [00:45:43] water, our well-fielded Starkey and then we got a we got in return a pledge that [00:45:51] our city would always have all water that it would ever need from the [00:45:54] regional authorities. So those kind of agreements can take land out of the [00:45:59] non-taxed realm of the church, but yet at the same time, given the parking that [00:46:06] we've added and the potential to site design that whole quadrant, perhaps the [00:46:11] ability to do as we did with Kaiser University or the hotel and find that [00:46:17] they could get guaranteed of the spaces and the parking that they need. So [00:46:22] there's a couple of neighbors that I think it's I don't know when the right [00:46:26] time is because once you start getting excited about something, prices go up on [00:46:30] everything. But luckily there's only two folks and only one of them is a [00:46:35] developer in the audience here, but it's just the time is for strategy and that's [00:46:43] the kind of things that I think might be helpful. There may be some [00:46:46] opportunities for sure. There's no further discussion. All those in favor

   This text was generated automatically from the meeting video. It is not a verbatim or official record. For exact wording, consult the video or the city clerk.

6. 7Adjournment▶ 46:50
7. 1Call to Order - Roll Call