MIN 04-18-22 - Laserfiche WebLink

Home Browse Search

1. Committee of the Whole Report regarding meetings held April 11 & April 18th, 2022. (to be provided) Vice President Litten delivered the following oral report: The Committee of the Whole met on April I ph and April 18'h to discuss the proposed term sheet for the development of the hospital site. Members of the administration, most members of the committee, representatives of PMC, CASTO, North Pointe Realty and others were present, including at least 20 members of the public over the course of two meetings. The first meeting focused on the finances of the project including where we could find additional cost savings, how we got to this point, and where Roundstone comes into the equation as far as the finances go. The project cost is about $81 million with a $17 million gap to potentially be filled with tax credits. Councilmember Bullock emphasized the magnitude of the opportunity on the site to spur reinvestment. Mr. Sobczak from CASTO talked about the need to fill the project gap, with affordable housing contemplated as well. Councilmember Kepple advocated for apartments larger than two-bedroom. Mr. Sobczak explained the agreement with Roundstone. Mr. Simon from North Pointe Realty acknowledged that the future of office space is still influx and the uniqueness of having Roundstone at the table. Ms. Nichols expressed confidence that the project's financial gap can realistically be filled with a TIFF and grants, potentially. There was a question regarding using the market study from 2017 that was addressed. The Curtis Block was contemplated, and the advantages of a fagade save verses a full-scale preservation were discussed in both meetings. The next meeting, which was held this evening, we discussed the plaza with an estimated size of 18,500 square feet. Dim it architects walked us through the site plan as well as walked us through the various iterations of the site plan, including where we started to where we are now. There were plenty of questions regarding how to consider the Curtis Block, questions on how to balance current trends with future potential on the site, questions on how to activate use of the public space, particularly the location. There were also questions about the garage and how feasible adding onto the garage or making it multiple stories is possible, including using the Hospital Fund more substantially then is currently proposed. There was plenty ofpublic comment on the Curtis Block as well. Motion by Vice President Litten, seconded by Councilmember Bullock to receive and file the report. All members voted in favor. Motion passed. 2. RESOLUTION 2022-14 -A RESOLUTION to take effect immediately provided it receives the affirmative vote of at least two thirds of the members of Council, or otherwise to take effect and be in force after the earliest period allowed by law, authorizing the negotiation of an agreement by and between the City of Lakewood, Ohio, a municipal corporation and political subdivision in and of the State of Ohio (the "City"), related to the development of City-owned property at the southeast corner of Detroit Avenue and Belle Avenue. (Referred to COW 414122) (pg. 001) 2