The CDA hones in on RFP for Lakeview Residential Ren Zone project

In a special meeting last week, the Rogers City Community Development Authority (CDA) reviewed and updated the policy on ?requests for proposal? (RFP) for the residential Renaissance Zone development on Lakeview Boulevard. ?We have put together a group of papers and included submittal forms for development proposals,? said CDA chairman Dick Long.

?Also included was information for the developer and we sent this out to the prospective developers who have expressed interest in the past.? Long indicated there were other interested parties in addition to the original two local groups who have been sent the proposal materials.

?The final decision was made that we would, as a preliminary to any offer, be looking to recover our mortgage and some up-front costs,? Long said. ?In that case, the cash purchase price would be $250,000…and that?s where we go from there.? According to Long there are other monetary commitments that will need to be worked out with the individual who will be doing the infrastructure work.

?WE ARE still basing the project on what we looked at as the ?traditional neighborhood? and we feel we?ve got a marketable item,? Long continued. ?We continue to follow a dual track. If nobody shows up (as a developer) the city and the CDA will proceed.? Long said he hoped that by spring or early summer a model will be constructed. A February 15 date has been set as a cutoff to receive offers from developers, with the actual date being February 17 as it falls on a Monday. ?Any offers will be opened and looked at on that date,? Long said. ?I can?t say nothing would be accepted after that date; if an offer appeared to be within pennies, we might be willing to revisit an offer.?

According to Long, thus far, nobody has put any money on the table and the CDA awaits the February 15 deadline for offers. ?Not until money goes on the table,? Long said, ?do I consider we?ve had a proposal.? Long also said talk or offers would be met with a request to put 10 percent down or perhaps five percent. ?Another subject discussed at the meeting was performance bonding for a potential developer,? Long added. ?The last thing the CDA wants is to get the project back when it?s half finished.

?THIS IS A unique location and other similar types of developments don’t have the Ren Zone attachment. It is in effect going to provide a home owner with thousands of dollars in tax savings.? The end of the ?no tax? period is in 2017 with the last three years being a 75 percent reduction, followed by 50 percent and 25 percent the last year. The CDA remains in agreement on the issues regarding acquisition of a developer and retaining the project as originally laid out. The only final problem being addressed by the CDA is the final OK on

the property from the Department of Environmental Quality. ?We are confident now that the DEQ has given us a clean bill of health, although it?s not yet official,? Long said. ?These properties will undergo more scrutiny than any lot that anyone I know would buy. There are people living right across the street from the Ren Zone property that have wells and they have had no problems ever.?

According to Long the DEQ clearance has been a ?foot-dragging? situation and with the appearance of the new state administration and people changes, he hopes they won?t be going backwards and rehashing old ground on the project.

?We hope we are dealing with reasonable people and we can enjoin them to endure with us on this. We also hope we can develop a blanket environmental assessment for the entire project instead of one for each home,? Long added. The next CDA meeting will be Wednesday, February 12 at 7:30 a.m. in the council room at City Hall.