07-27-1994 Council Agenda - Laserfiche WebLink

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MINUTES City Council October 14, 1987 Centerville Road Park Proposal (Cont.) they received a reasonable return on their investment. However, Butler felt that the City should consider that the whole area is capable of supporting office and light - industrial development which would generate about 51.5 million in taxes and as much as 5150,000 directly to the City each year. Rather than the expense of a park, the City could be deriving the benefit of 5150,000 in taxes from the property. Butler suggested that there may be more marginal property in the City with a price tag of 52,000 to 53,000 per acre that would be suitable to the development of a recreational facility. However, Butler stated that his firm would do whatever it could to cooperate with the City. Butler also pointed out that reference was made to the 580,000 per acre that he was asking for his property, and pointed out that a property is worth what someone was willing to pay for it. Butler reported that he has firms that are interested in locating in this area, however, AIC has other sites available besides the Centerville Road area. Butler suggested that perhaps the City could still establish a portion of the tax base in the Centerville Road area and swap some land for the more marginal land on the north. However, Butler stated that he would not stand in the way of the City's park proposal. Mark Lendway, past president of the Recreation Asosciation, stated that he wanted to preserve suburban living in Little Canada. Lendway noted that if the Centerville Road area is not developed as a park, it will develop industrially. Lendway was in favor of the proposal. Rod Kleiss reported that he recently moved to Little Canada because of the quality of life in the area. Kleiss reported that his children have become involved in the City's recreation program and this has helped them integrate into the community. Kleiss felt the proposal would further enhance the quality of life in the City and agreed with Lendway that the City will see industrial development on the site if the property is not acquired for a park. Frank Frattalone, son of Dave Frattalone, one of the property owners of the Centerville Road property, reported that his father is in favor of the project and would like to see his agricultural land preserved in park land. Frattalone stated that his father is willing to negotiate with the City on his property. Mrs. Bibeau, another property owner of the subject property, requested that if she sell her property to the City, her house be excluded from the sale as she has willed her house to an heir. Slim Frattalone, property owner on Centerville Road, asked if the City would be purchasing homes along with the park land, pointing out that his homes are for sale and felt they would decrease in value being located across the street from the parking lot for the proposed park. Page -7- Page 227