DATE: October 24, 2019
TO: Members of the Economic Development Authority
FROM: Nate Carlson, Economic Development Coordinator
Title
EDA Public Hearing on Sale of 510 Washington Street
Body
SUMMARY AND ACTION REQUESTED:
The Economic Development Authority will hold a public hearing on the Sale of 510 Washington Street for Fifth Street Lofts project. See "Public Hearing Procedure (taken from City Council Rules of Business)" in the Summary Report section provided in this memorandum.
BACKGROUND:
No action is taken during the public hearing. Following the public hearing, EDA will be considering a Resolution for approval of the Sale of 510 Washington Street to the developer, Rebound Stencil Development, LLC.
Project Background Summary
Rebound Stencil Development, LLC is proposing to construct a $13.66 million urban residential complex at the southwest corner of 5th Street East and Washington Street. The proposed redevelopment project includes enclosed parking for tenants. There are significant site improvements with this redevelopment project, as well as site acquisition costs.
Public Hearing Procedure (taken from City Council Rules of Business):
A Public Hearing is used by the EDA to solicit the public's comments on various projects or City operation procedures.
A. The EDA President will open the hearing by identifying the subject, calling for a motion, second, and vote to open the public hearing.
B. Staff presentation - staff will give a presentation on the subject.
C. Applicant's presentation- if needed.
D. Public Input - The public will have the opportunity to speak for or against the issue. The public may ask questions, make comments, voice support, agree or disagree with the issue.
1. The Chair will recognize a speaker at the podium and comments/conversation will be between the Chair and speaker; and between the Chair and Council Members.
2. At the podium the speaker must give their name, address, and if representing a business, must give the nam...
Click here for full text