01-24-94 Human Resources & Economic Development

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Human Resources and Economic Development Committee The January 24, 1994 , meeting of the Human Resources and Economic Development Committee was called to order by its Chairperson, Council Member Roland Kelly, at 4 : 30 p.m. in the Council Informal Meeting Room. Persons in attendance included Council Members: Luecke, Washington, Kelly, Puzzello, Zakrzewski, Coleman, Duda, and Ladewski; Ann Kolata, Tom Walls, Rich Aronson, Mike Beitzinger, Don Porter, and Kathleen Cekanski-Farrand. Council Member Kelly noted that the first item on the agenda was to review Resolution No. 94-5 which is a tax abatement request for Central High School. Mike Beitzinger then reviewed the memorandum dated January 14 , 1994 , from the Department of Community and Economic Development. It was noted that the property in question is located at 317 West Washington and is to be developed by the Alexander Company. They are planning to renovate and convert the historic Central High School into multi-family housing so that 102 apartments would be created. Total cost of the project will be 9 million dollars, with a fair market value, after completion, of $3 , 500, 000. 00 . The project would create three (3) new permanent full time jobs. He noted that the;'petitioner qualifies for a ten (10) year real property tax abatement under Section 2-77 (multi-family real property tax abatement) . Mr. Rich Aronson of the Alexander Company noted that approvals from the state for construction should be forth- coming very soon. A model apartment should be open in June or July, with the project to be completed by December of this year. In response to a question raised by Council Member Luecke, it was noted that 70 percent of the apartments would be set aside for low and moderate income families. In response to a question raised by Council Member Kelly, it was noted that the name of the apartments would be "Central High Apartments" Council Member: Washington questioned whether the auditorium would be renovated, and was advised that it was not in the original budget. In response to a question raised by Council Member Duda regarding theater groups, Ann Kolata noted that a Current study is being done by the Downtown Entertainment District, and that they have requested preliminary costs for the renovation of the auditorium.