DEPARTMENT: Center City Development and Operations
DEPARTMENT HEAD: John Jacks
COUNCIL DISTRICTS IMPACTED: Council District 2
SUBJECT: RFP for Reus-Sterling Properties
SUMMARY:
A briefing on the proposed Request for Proposals for the Reus-Sterling Properties
BACKGROUND INFORMATION:
The City owned Reus-Sterling Property consists of contiguous commercial buildings and a residential building located at 1432/1434 East Commerce Street, as well as, a vacant lot at 323 Idaho. The 0.5122 acre property is on the corner of Hackberry and East Commerce within the Inner City Reinvestment Infill Policy Area (ICRIP) and Inner City TIRZ #11.
The property was initially acquired in March 2013 through the use of $150,000 in TIRZ funding for the purpose of redevelopment of the site through issuance of a Request for Proposals. In November 2013 the City identified a developer who proposed a $2.4 million demolition and reconstruction of the property. As part of the developers due diligence, a demolition application was submitted to the City's Historic Design and Review Committee (HDRC). The HDRC issued recommendation of a Finding of Historic Significance recommending the property not be demolished. The developer opted not to move forward with the project.
The City has since received multiple inquiries regarding the availability of the site for redevelopment and is seeking to facilitate a review of proposals through the re-issuance of a second Request for Proposals. Once a developer is identified through an evaluation process, the recommendation will be presented to the Neighborhood and Livability Committee.
ISSUE:
This item provides a briefing on the proposed Request for Proposals.
ALTERNATIVES:
This item is primarily for briefing purposes, however, the Neighborhoods and Livability Committee may elect to recommend staff not proceed with the proposed Request for Proposals.
FISCAL IMPACT:
This item is a br...
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