Few changes in Garfield renovation plans
"Those of you who have heard of the project before, you are not going to see anything much different," Johnson said. "The product that we had intended to introduce in 2018 is still the project that we are going to introduce today."
About the only change is the cost of phase one which is renovation of the current building that increased from
"What have we been doing for the past year and a half? Certainly not sitting on our hands," he said.
He said Andy and
The project is expected to receive both state and federal tax credits as
"That is very challenging to pair up different parties that want to be on the same timeline for financing a project on similar terms that everyone can get into the boat together," Johnson said. "It's not just them and the lender. It's not just them and the investor. It's all the parties coming together to make the deal work."
Investors
There are now two committed parties.
"They are barreling toward a closing on that financing within quarter four of 2019," he said.
"It's good to see some progress," said Mayor
A request to the city commission is the issuance of industrial revenue bonds to exceed
The city commission approved the issuance industrial revenue bonds for the
He said the transformation of
"It is an absolutely necessary critical need in this community. We all discussed that the last time we were here. In and around this region there is a need for high-quality senior living," Johnson said.
Need
The residential facility is designed for those 55 years of age and older. Planned are 16 one-bedroom units which will rent for
Plans are to preserve the exterior of the building, to restore the original doors of the rooms and to recreate the lighting that was in the gymnasium.
"The goal is to keep the historic feel," Johnson said.
"At the time that it closed, the school district wanted to identify a developer that wanted to make an adaptive reuse of the building and preserve some of its historic character," Johnson said. "It's such a unique, cool building."
The bonds will be used for the first phase consisting of the renovation and rehabilitation of the
The first phase is expected to be completed next year.
Funds will be used for renovation, remodeling, construction, furnishing and equipping of a multi-phased senior independent living facility.
The city commission is expected to review the request at the
In other business, the commission discussed extending the contract for
Kissinger, a former interim city manager for
The anticipated work schedule is between 1 and 2-1/2 days a week, being compensated at a rate of
The commission generally does not meet on a fifth Monday of a month but Foltz said a study session will be held on
Contact
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