Discussion:
Gaughan Companies responded to the Request for Proposals issued by the city and the EDA. Over the past six months they have been working on the design and the city/EDA have been working on site exploration.
The investigation found that there is a large garbage pit on the northern section of the property that crosses the road and heads into the bluff. They also found that bedrock is directly under the existing floor at Doggie Doos.
As part of the redevelopment, the developer will remove the waste material and bedrock to redevelop the property. At the same time, working with the City Engineer, they will remove the necessary material for the reconstruction of Levee Drive and connect Scott and Levee with a new road including sidewalks and streetscaping.
The developer will also coordinate with utility relocations including those on the bluff.
The developer will be working with its contractors and utilities and city staff over the next several months to finalize the costs for all of the onsite and offsite public improvements and utility relocations. Staff will bring back to the EDA a final term sheet with TIF flows to the EDA and the developer. There will also be another required public hearing for the sale of the property to the developer.
This agreement and the creation of the TIF District are necessary at this time since the developer will be expending substantial amounts on design and project development. They expect to be under construction by the end of the year with demolition and going vertical in the spring on 2019.