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Coveleski Park -Housing Block <br />Fred's Transmission <br />501 W Western Avenue (3 parcels) <br />Current Assessed Value: $211,400.00 <br />Current Property Tax Value: $8,797.00 <br />Projected Site Redevelopment Costs: $325,000.00 <br />Located on the proposed Coveleski Park Housing Block, the acquisition of the Fred's <br />Transmission properties would allow for controlled infill development along William and <br />Taylor and allow for control of the development on Western Avenue. The Commission <br />presently owns all but three parcels on this block (excluding the three parcels with this <br />request). The Commission activities involved with this property would include acquisition, <br />demolition, site preparation and marketing for redevelopment for both mixed use and mixed <br />scale residential development. With the rest of this block (excluding a single family house <br />and a communication building) cleared and prepped for new development, the ability to <br />acquire and clear the Fred's properties would allow for a better development opportunity for <br />the block. During the demolition process, it is anticipated that a concept site plan would be <br />marketed to area developers to move forward development on this block. <br />Coveleski Park -North Development Block <br />GMS Realfy-Toyota Properties <br />300 & 400 block of Western Avenue (10 parcels) <br />Current Assessed Value: $1,358,900.00 <br />Current Property Tax Value: $56,552.00 <br />Projected Site Redevelopment Costs: $1,500,000.00 <br />Former Schilling's Camera Store <br />325-329 S Lafayette Boulevard (1 parcel) <br />Current Assessed Value: $230,500.00 <br />Current Property Tax Value: $9,592.00 <br />Projected Site Redevelopment Costs: $500,000.00 <br />Nor Systems Inc. Computer Store <br />301 S Lafayette Boulevard (1 parcel) <br />Current Assessed Value: $161,400.00 <br />Current Property Tax Value: $6,717.00 <br />Projected Site Redevelopment Costs: $325,000.00 <br />