CC MINUTES 06281988 - Laserfiche WebLink

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5 1 similar opposition from the Councilmembers during the conversations 2 which followed Commissioner Madden's report. 3 The general consensus was that the mural would do nothing to correct 4 existing signage problems in the center and that it would be better 5 to defer any action on the center until after the center owner's 6 representative, Joe DiSanto had met with Councilmembers and Commis - 7 sioners later this summer. 8 Councilmembers told Mr. Johnson they were not failing to recognize 9 the improvements which the managers had already made in the area, 10 including the uniform painting above the storefronts and the black - 11 topping of the parking lots nor the fact that better communication 12 between the City and the owners had resulted from changes in person - 13 nel in both the owners' New York representative and the Eberhardt 14 Company. However, the perception continued that much more had to be 15 done to keep the center from deteriorating to the point where it 16 matched the condition of the shopping area adjacent to theirs on the 17 southwest. 18 Mr. Johnson responded by saying: 19 *the mural which could be paid from center cash flow monies, 20 had only been requested as a means of dressing up the back of the 21 center, which was exposed to Kenzie Terrace traffic and the view 22 from the City fire station; 23 *the managers have requested the City help towards getting some 24 sort of financing within the 5% to 8% interest range to pay for 25 uniform signage which would cost from $150,000.00 to $200,000.00 and 26 could never be saved from the cash flows; 27 *it's not realistic for the City to expect the owners to put one 28 two million dollars into a center for which property values and/or 29 rents could never be expected to be raised to levels which would cover 30 that type of expenditure; 31 *the owners rather resented the fact that the City had failed 32 to give any sort of recognition of the money they had already spent 33 in the last year towards improving the center or the fact that the 34 type of signage had been upgraded for each new store which went into 35 the center in the last few years. 36 The response to these remarks was: 37 *that the City welcomed better communications with both the 38 owners and the Eberhardt company after so many years of getting no 39 response to either letters or calls; 40 *the Council did recognize improvements were starting to be 41 made but were concerned they wouldn't go any farther;