10-23-85 Council Minutes - Laserfiche WebLink

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nrNU~~rs ciey council. Occa ?_3, 1.9F35 Cardinal Mr, SLlerman 'Rutz~i.clc has requested that the Ci.ty call. a Publi.c hearing 1?roperCy on i.ncluserial revenue bonds Por hi.s proposal for the clevel.opmenC of: IDJI's CY~e Carclinal propecty. ~ge°~~`~ 34r< Rutzl.ck eepor.ted that he has amended hi.s proposal to i.nc.lude the Item No. 6 Wi.nter property as a buf£er -c,one to Iona L~ne< Rutziclc stated thaG 75 feet of the Wi.nter ,poc~erty would buf.fec Iona 7,anE~ and that k~e i.s ~~roposi.n~; addi.tional apartments because of'. t:he acldi.ti_on of the W~i.nter pr.opcrty. P~tr, Rutz~iclc reportect thaC the soils o,f thi.s propertq are soft ancl there aze adcled costs to c'level.op it. Rutzi.ek reported th2t he is px•oposinf; 54 addi.ti.onal. units. ~lr.s< Scalze aslced ho~a wi.de the Wi.nter property was. RuCZielc rc~plied tl~at. it is 190 feet wi.<Ie< P1r. Pahey pointed out: that t1rLS would ca11 Eot the tapzoni.n~; of. si.ngle Lami.l.y res~i.denti_al property to iZ-3. l~ahey sCated thaC. he can buy tkie dev~lopment of conunercial ~ropercy witt~ apartments, but not single f.~ami.ly. Pahey commented that someho~o Che C~':i.r~ter proper~ty has to be worl<ed in on an R-1 basis. ].~ahey also commented that the C:ity cannoi: a11ow this property to be l.andl.oclced. Mr. Rut:.ziclc sCated that he i.s noC a si.ngle f:amil.y bui.lder. Scalze suggested that Rutziclc all.ow aT~ out.].et For Che ~di_nters to 12i.ce Street. Scalze aslced i.f indt~str.i~l rev~nue bonds are necessary in or.dev for Che project Co succeed. @(r. Rutzi.clc replied thaC they cou].d not liave a quali.ty cleve7.opment under current financin~. Mrs. Scalze pointed out thxC ^ncler i.nclusLrial. revenue bonds low to moderate incomc housin~ must be provide<l. Sc~lze did not. feel that the Ci.ty should use indust.r.ial revenue bon<is for apartments. Mr. ,Rutzi.ck commented that sorneone wi.th an i.ncome oP `~25,960 would qual.ify f:or l.osa or moderate i.ncome. Scalze pointed out that Che City has hal.f its housing units on the wa~sC s:i.de o£ the Ereeway and she i.s not in iavor of adding any more apurCments i.n the City. S2uCZi.ck stated that this wou7.d be a qualiCy clevelopment and the apar.tments woul.d have rents in the $550 to .$650 r.ange, ~4r.< P~ihey comrnented that these issues can bc. worlced ouC becween now and the public hear.i.n;, I~ahey pointed out that the Council's decision tonight is to <tecide i.E a publ.i.c heari.n~; should be called. Pahey stated that he had no problem with call.i.ng a i~earing, FLowever., ~Fahey suggested tliat between now and ttae time Che hearin~ i.s held the matter ot Che Sdinter propert:y shoulcl be wor.lced otit. Mc. ftuCZiclc commented t11at the heari.ng h<esto be held bef:ore the [i.rst of the year. Page -6-