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• f <br /> Community and Economic Development Committee <br /> January 26, 1998 <br /> Page 2 <br /> space should be located near governmental buildings,high visibility areas,or near the city <br /> parking garages. Six potential cites were reviewed. He noted that he would be happy to <br /> provide a copy of this study. <br /> Council Member Hosinski questioned the criteria being used, since he believes that the <br /> Northeast corner of Colfax and Michigan would be perfect for high density development. <br /> Mr. Hunt noted that restrictions for the past 15 to 20 years have been in effect on that <br /> property. <br /> Council Member Ujdak questioned whether the Council could go forward since Barb's <br /> Grill is proposed to be designated as a Historic Site. Mr.Hunt stated that he would like the <br /> Common Council not to go forward with such a designation since he believes it would be <br /> another barrier. Mr.Hunt also noted that a unified parking plan is required to be a part of <br /> the four parcel development,beginning with the Hardee's property. <br /> Council Member Ujdak questioned what the final estimate on acquisition and demolition <br /> would be for the four parcels. Mr. Hunt noted that public hearings would take place on <br /> February 6 before the Commission, with all properties being added to the acquisition list. <br /> At least two appraisals must be done on each parcel. <br /> Council Member Varner questioned whether there was an urgency to this proposal. He <br /> voiced concern with regard to acquiring a property,raising the building and then leaving <br /> the property vacant and keeping it off the tax rolls. <br /> Mr.Hunt noted that the Studebaker Museum funds are included as part of the$1.8 million <br /> designated for downtown redevelopments. <br /> Mr. Hunt also noted that appraisal costs would be lower then acquisition costs because of <br /> the demolition and relocation amounts. He noted further that benefits of higher taxes and <br /> retaining businesses in the downtown area in job creation should all be considered,versus <br /> real estate taxes being generated by current property owners. Mr. Hunt further noted that <br /> the department would like to be pro-active to a degree and is protected by the public bidding <br /> process. <br /> Council Member Varner questioned whether tax abatement is anticipated for the four parcel <br /> area involving Hardee's. Mr. Hunt stated that he anticipates that tax abatement would be <br /> considered. He stated that an improvement of$60,000 square feet would be entitled to a <br /> 10 year real property tax abatement. <br /> Council Member Varner questioned how many potential businesses are relocations. It was <br /> noted that one business of approximately 20,000 square feet is not in the downtown with <br /> the other being in the downtown currently. <br /> Council Member Pfeifer questioned whether Hardee's is still functioning. Mr.Hunt noted <br /> that it is closed on Sunday, closes at 4:00 p.m. on Saturday, and closes at 6:00 p.m. on <br /> weekdays. <br /> Council Member Pfeifer questioned what the relocation costs would be if the property was <br /> acquired. Mr.Hunt noted that relocation costs are not as high when businesses are <br />