Laserfiche WebLink
MINUTES <br />CITY COUNCIL <br />NOVEMBER 1, 2001 <br />The City Administrator pointed out that a project undertaken by the City would <br />likely be retail space on the lower level with market rate senior housing that <br />includes an affordable component on the upper two floors. There is also the <br />possibility for a transitional use of townhouses on the eastern edge of the <br />property. <br />Fahey asked if the project would encompass strictly The Venetian Inn site. <br />The City Administrator replied that it would include the 2 Yz acres owned by <br />The Venetian as well as an additional acre owned by Sherman Rutzick that <br />would square off the site. <br />Fahey suggested that the Council Srst heat' presentations from the property <br />owners/developers interested in doing a senior project in this area. <br />Wally Johnson, in partnership with Sherman Rutzick, appeared before the <br />Council and noted that he was the developer of the Lakeside Apartments just <br />east of The Venetian. He also noted that he has been interested in doing <br />further development in the Rice Street/Little Canada Road area and has made <br />various proposals to the Council in the past Johnson reported on the <br />experience that he and Mr. Rutzick have in the area of developing senior <br />housing. He noted that Mr. Rutzick owns 4 'h acres oP property adjacent to <br />The Venetian Inn site. Johnson reported that he and Rutzick would like to <br />develop this site as well as The Venetian Inn site as a private development with <br />some City assistance. They have not put together any drawings or numbers at <br />this point, however. <br />Fahey stated that one of the considerations this evening is whether or not it is <br />feasible for the City to develop and own a senior project. Fahey state, <br />however, that he would be willing to entertain a proposal from a private <br />developer. Fahey noted that the City has some preliminary numbers indicating <br />that a project is feasible, and noted that the City would not provide appreciably <br />more assistance to make a project work for a developer. <br />Johnson commented on some of the previous proposals he and Rutzick had <br />discussed with the Council for this property. He noted that they have always <br />had a strong interest in housing on this property, and felt that they could put <br />together a site plan and some drawings over the next ten days. Johnson asked <br />if the first floor retail was a mandatory component. Johnson acknowledged <br />that the City may be able to pull together some financing options that a private <br />developer could not. He noted that TiF assistance, however, would likely be a <br />necessary component of a private project. <br />Fahey noted that the City is not interested in a regular apartment complex on <br />this site, but rather senia~ citizen housing. He noted that retail is a necessary <br />component and felt the retail featw'e would be attractive to an office <br />2 <br />