02-13-2002 Council Minutes - Laserfiche WebLink

Home Browse Search

MINUTES CITY COUNCIL FEBRUARY 13, 2002 Morton felt that this could be done and he would be willing to work with the developer selected tior the redevelopment of the southeast corner. Morton further reported that he disagreed with some of the information presented at the workshop. First, he disagreed that medical/professional offices did not integrate well as a component of an ofTice building. He also disagreed with some of the density that was proposed on the northeast corner. Morton reported that with regard to his redevelopment proposal for the northeast corner, he currently has a commitment with US Bank for conventional financing provided that he has a portion of the building pre- leased. If the pre-lease requirement cannot be met, Morton asked if the City would be willing to finance the project for the short term until the appropriate percentage of space is leased. "Phis would allow the project to get to the construction phase a lot quicker. Morton reviewed his concept drawings for the corner noting he is proposing a two-story building with 16,000 square feet on each floor. Materials would be brick on the lower level with block effect on the upper level as well as a lot of glass. Morton noted that he had been proposing a patio area at the corner in front of the building. Flowever, upon hearing the proposals this evening for the southeast corner, it is his feeling that apedestrian-friendly aunosphere needs to be created and this area more open to the public. Morton noted that he may also bring this corner of the building out fw ther depending on the results of some can ent negotiations he is having with a prospective tenant. Morton also noted that his proposal contemplates the acquisition of a portion of property from US Bank. Parking would consist of 153 surface parking spaces. Morton reported that he is negotiating with a mechanical engineering company for approximately 20,000 square feet of this building. lfthese negotiations are successful, pre-lease requirements will have been met and conventional f nanciug will be in place for the project. Morton reported that the company does some testing of HVAC units and they will require an overhead door so that they can bring the units inside the building for testing. The company can ently occupies 12,500 square feet of space, of which 600 to 800 is devoted to their testing area. Morton stated that he would be proposing to create a basement area under a portion of the building that would be allocated to this tenant and a portion of which would be their testing area. Morton anticipated that the remainder of the building would be occupied by an established business operator that would lease small spaces to small users and also provide support services.