Laserfiche WebLink
M1N UTES <br />Cl'1'Y COUNCIL <br />NOVEMBER 1, 2001 <br />Scalze pointed out that other cities are doing projects of this nature and are <br />using them as revenue generators to provide relief to taxpayers. The City <br />Administrator agreed that a project of this type could generate revenue, but <br />pointed out that it will not until the dept is paid off. Scalze pointed out that the <br />City is fully developed and must look for other ways to alleviate the burden on <br />taxpayers. <br />Fahey pointed out that a joint venture approach with the City and a developer <br />may also be feasible. <br />Anderson pointed out it will take 30 years to pay off the debt on the building, <br />and questioned whether the demand would still be there for that type of <br />housing. Fahey pointed out that after the debt is retired, the project could <br />withstand an increased vacancy rate and still generate revenue. <br />LaValle felt that i1'need be, the City had the capabilities of doing the project. <br />The City Administrator suggested this evening's special meeting be continued <br />until next Wednesday to give him a chance to refine the numbers and outline <br />some key parameters. <br />Scalze felt this was not the best location for an assisted living senior project. <br />Fahey suggested that the City needs to be aggressive with this project, and <br />suggested that Messrs. Johnson and Rutzick move on the fast track and put a <br />proposal together. Fahey stated that the Council needs to decide quickly <br />whether the project will be developed privately or by the City. <br />The City Administrator indicated that he has already received calls from <br />people interested in placing their names on a waiting list for senior housing at <br />this site. <br />Mr. LaValle introduced the following resolution and moved its adoption: <br />RESO/ UTION NU. 2007-I1-25I - CONTINU[NC; THF. SPECIAL <br />MF.F.T/NG TO WI:DNE.SDAY, NOVF,MI3ER 7, 2(1(11 A%'6 P.M. <br />The foregoing resolution was duly seconded by Fahey. <br />Ayes (5) LaValle, Fahey, Scalze, Montour, Anderson. <br />Nays (0). Resolution declared adopted. <br />[tutzick indicated that they would bring in a couple of proposals to the <br />November 7°i meeting. <br />G <br />