11-07-01 Council Special Minutes

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MINUTES CITY COUNCIL NOVEMBER 7, 2001 there would be some economies of scale in demolishing the building in conjunction with the construction of the senior project by not mobilizing a contractor twice. This may mean that the building sits vacant for 3 to 4 months. Farnham felt that it would take a minimum of 6 months before a project would break ground given the need to develop the design of the project, put financing in place, survey the site, complete environmental studies, etc. Farnham pointed out that an 80-unit senior bui]ding is a large project. The City Administrator felt that if the project is a City project, a minimum of 80 units would be necessary in combination with 25,000 square feet of retail space. Farnham pointed out the City staff resources that will be necessary if the City undertakes this project. He commented that other cities that have done similar projects have HRA staffs. He did not know of a city with as lean a staff as Little Canada has undertaking a project like this. Scalze asked if the City could contract with someone to oversee the project. Farnham reported that that is an option. He repotted that his firm is currently involved in such a project and undertook the work for half the development fee that would have been charged by a developer. The project required athree- year commitment on the part of his firm. Two years for design and construction of the project, and the first year of operation of the senior building. Farnham reported that he would have to talk to his partner to determine if their firm would be interested in doing a overseeing a city project again. Farnham reported that their preference would be to develop and own the building themselves. Farnham also suggested that perhaps there was a partnership arrangement that could be worked out between the City and his firm. Fahey stated that he would prefer that the City not bite off the whole project area, but limit the City's involvement to the 80-unit market rate senior building with the retail component on the first floor. The City could own that portion of the project and hire out the management of the building. The remainder of the area could be developed with senior housing on a private basis, with the result being awin/win situation. Fahey stated that he would like to see an assisted living component in the project area. Farnham indicated that Common Bond does a good job with assisted living projects. Scalze asked if a 4-story building would cost less to construct. Farnham replied that a 4-story building is feasible, but pointed out that adding the fourth floor brings another level of construction industry standards into play with regard to elevators, weight loads, etc.