HomeMy WebLinkAbout05.19.92 Special Council Minutes
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MINUTES
CITY COUNCIL/HOUSING AND REDEVELOPMENT AUTHORITY MEETING
SPECIAL
MAY 19, 1992
1. Mayor Kuchera called the meeting to order at 7:00 P.M.
Members Present: Kuchera, Orr, Galler, Rotty
Members Absent: Mayer
Also Present: Administrator Thompson
2. The purpose of the meeting was to discuss proposed uses for the Exchange Bank
Building.
3. HRA Executive Director Henricks presented an overview of the Exchange Bank
Building noting the following:
a. History of the building
b. National Registry
c. Joint efforts by the Council and HRA to rehabilitate it
d. CDBG deadline - June 30, 1993
e. Previous attempts to rehabilitate -
1. Mixed use - residential/commercial
2. Rehabilitation south 1/2 block
3. Restaurant/banquet facility
f. Survey results - Logia/ Rail Road Depot - 158; Exchange rehabilitation - 95
4. The following comments were received:
1. Available funding (historic)
2. Tax Advantages - Tax credits and qualifications (75% restoration)
3. Deteriorating conditions
4. Local financial commitments to date - CDBG funds - $184,000
5. Minimum dollars to restore - $150,000 to $200,000
5. Ed Nelson was adamantly opposed to rehabilitating the Exchange Bank Building
because of limited interest. City Planner Charles Tooker indicated that because
of its unique architectural style it would be a great loss to the community if it
was torn down.
6. The following suggestions for uses were made:
1. Library
2. Cultural Arts Center (Chorale, theater, historical society)
3. Office
4. Chamber of Commerce Office
5 . Bank
6. Restaurant
7 . Dance Hall
8. Museum
9. Bed and Breakfast
10. Hotel
11. Coffee Shop
12. Apartment Building
13. Retail - Specialty Shops
14. Professional Building
15. Dental/Medical Office
16. School
17. County office
18. Pool Hall
19. Incubators
20. Telecommunications
21. Tourist Information Center
22. Dance Studio
23. Health Center
24. Liquor Store (private)
25. Satellite FAA center
26. Child Care Center
7. It was suggested by a number of individuals that the City would have to look
beyond the Exchange Bank Building itself in order to attract a developer. It was
suggested that the Council and HRA assume all uses were financially feasible and to
begin identifying a funding source. Questions were raised whether there would be
a use which would generate sufficient funds to finance the building. The following
funding sources were explored:
1. Tax incentives
2. Public Fund Raiser
3. .Charitable Gambling
4. Foundations
5. National Historical Society
6. Joint Community funds
7. Service groups
8. Grant Programs
9. Volunteer Labor
10. School Fund Raisers
11. Private funds
8. Questions were raised as to what to do in the short run. The status of the
CDBG grant was discussed. It was agreed that the list should be narrowed down.
Councilman Rotty suggested the extension of the CDBG deadline be strongly pursued.
9. It was agreed to meet again in a joint session to be determined by the Executive
Director and Administrator.
10. Motion by Member Orr and second by Member Rotty to adjourn at 9:10 P.M.
APIF, MOTION CARRIED.
Respectfully submitted,
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~~ Thompson
City Administrator
Approved
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MEMO TO: MAYOR AND COUNCIL
SUBJECT: MAY 19, 1992 MINUTES
DATE: JUNE 25, 1992
Following is my interpretation of the amendments made to the Mayor by Ed Nelson for
above referenced minutes.
1. The comments made by Councilmembers should reflect that they appeared to be negative.
2. The Mayor asked if the taxpayers could be stuck with the bill of $184,000. The
answer was "It's very possible."
3. Councilmember Galler stated we could take a $184,000 loss and walk away or put
the money into something that we have a greater concern for.
If you have any questions, please let me know.
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Karen Finstuen
Administrative Assistant