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• <br /> • "Cleo <br /> • Proposed Kenzie Terrace Plaza <br /> • <br /> • <br /> • CONCEPT PROPOSAL <br /> • <br /> • The intersection is viewed as an important element and we <br /> anticipate working with the City to include an urban <br /> streetscape design that incorporates signs, landscaping and <br /> monument considerations such as a clocktower. The current <br /> • site plan simply identifies the streetscape as a feature <br /> element. <br /> • Property Disposition <br /> The site is approximately 50,000 square feet. For purposes of <br /> this proposal, we have identified three alternatives for the <br /> • property disposition including sale, lease and deed. <br /> 1. Sale of the Property to Amcon. Under the terms of <br /> • the sale, Amcon would provide space for the <br /> municipal liquor store anticipating a traditional <br /> • lease, including property taxes. Proceeds of the <br /> sale would be at the City's discretion but could help <br /> • supplement liquor store furnishings, the fire station, <br /> or other uses. Our experience suggests the value of <br /> • the property to be in the range of $8.00 to $10.00 <br /> square foot. <br /> • 2. Lease Property to Amcon. A long-term lease in <br /> favor of the City. Under this scenario Amcon would <br /> • complete the building and lease space for the liquor <br /> store. The City would get the property back upon <br /> • termination (i.e. thirty years) and generate a <br /> stream of payments. These payments could be <br /> • used for liquor store furnishings or debt service for <br /> the fire station. Under this scenario, the property <br /> • may remain tax-exempt and payment in lieu of <br /> taxes could be negotiated. <br /> • 3. Deed to Amcon. The property could be deeded <br /> (given) to Amcon and a corresponding value used in <br /> the lease for the liquor store. The property would <br /> be taxable under this scenario. <br /> • <br /> • <br /> • <br /> • <br /> • <br /> • <br /> 0 <br />