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Council wants to preserve the locally historically designated Curtis Block Building to greatest <br />extent possible with an emphasis on preserving four corner street -car design of the corner of <br />Marlowe and Detroit and paying homage to original structure with elements throughout. <br />Council recommends that the Administration and the Developer consult and make best <br />efforts to work with the Lakewood Heritage Advisory Board throughout the process. <br />Provide regular (monthly or more) formal updates to Council <br />While the Administration referenced an $18 million gap in funding the Development, Council <br />requires much more information to understand the financials (including a succinct and easily <br />understandable sources and uses document) and the financial incentives that the <br />Administration is considering seeking approval from Council to grant the Developer for the <br />Development. The Administration's discussion of the Community Reinvestment Act ("CRA") <br />Abatement and Tax Increment Financing ("TIF") have been helpful, but to date have only <br />been conceptual. During the process Council may consult with an independent financial <br />incentives expert to ensure that what is proposed is consistent with the market. That said, in <br />line with Council's desire for increased density (both residential and commercial) and future <br />adaptability (parking garage), Council would be willing to consider strategically investing <br />Lakewood funds (including the Lakewood Hospital Fund) if the return on investment can <br />reasonably be shown. Council looks forward to working with the Administration on this <br />portion of the Development as it will likely be the portion that has the most Council input. <br />Include Council representation while negotiating the Development Agreement. <br />In light of the Administration's aggressive timeline, to ensure Council is engaged and updated <br />on the crafting of the Development Agreement, Council would like Council representation <br />dedicated to working with the Administration, the Developer, and the Downtown <br />Development Advisory Panel on the Development Agreement. This approach was used with <br />the previous development plan for the Property. The Council representation will help keep <br />the rest of Council informed of the process and cut down on information gaps between the <br />Administration and Council to ensure the tight proposed timeline can be met. Moreover, <br />Council would like to see the Administration solicit additional input from the Downtown <br />Development Advisory Panel before the Development Agreement is finalized. <br />Fail <br />