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2O <br /> <br />the "rushed" nature of the project, but noted that the <br />project had been analyzed one year before and a study <br />group had made a report public concerning guidelines and <br />recommendations for the site. In January bids were <br />received from architects concerning the proposed <br />development and in February meetings were held with <br />developers and with the design architects. Following this <br />meeting, bids were received from developers, with only <br />four submitting bids on the property. Mr. Redinger stated <br />that the City had imposed severe restrictions on the <br />property which reduced the purchase price. Mr. Redinger <br />stated that the City was requiring first rate office space <br />which would hopefully attract new business downtown and as <br />a result, Mr. Redinger was proposing to spend 15 - 20% <br />more per square foot than what is considered the norm. <br />Mr. Redinger noted that no City money was involved in the <br />project. <br /> <br /> Ms. Frances Johnson of the Westhaven Tenants <br />Association, stated that the people did not want another <br />hotel project. <br /> <br /> Mr. Sherman White questioned what the City was doing <br />concerning economic development downtown and providing <br />more job opportunities. <br /> <br /> Colonnel Smith stated that he felt the money spent on <br />the downtown mall had been a good investment and that he <br />was not opposed to the proposed development. Colonnel <br />Smith questioned what plans the City had for a public <br />parking deck. <br /> <br /> Mr. Buck stated that the City had originally required <br />that the developer provide 67 parking spaces for the <br />proposed project but that with the UDAG grant, the number <br />of parking spaces had expanded to 186. Mr. Buck stated <br />that he felt downtown had prospered because of the role <br />that both the public and private sector had played. <br /> <br /> Mro Hendrix stated that $2.5 million was being <br />recommended in the City's Capital budget to build a <br />300 space parking deck probably in the Water Street area, <br />with construction proposed for late spring or early <br />summer. <br /> <br /> Mr. Caton recommended that the City offer the <br />proposed development sites to the public for sale and let <br />potential developers build anything they wanted. <br /> <br /> It was noted that the Housing Authority had purchased <br />the property in order to control what was considered a <br />major focal point of the downtown area. <br /> <br /> Mr. Hendrix stated that the property proposed for <br />development had been purchased by the Housing Authority <br />with federal money and that the City now had the <br />opportunity to be awarded the UDAG grant which would be <br />loaned to the developer and paid back to the City, at <br />which time the money could be used again for community <br />development projects. <br /> <br /> Ms. Joy Johnson of the Westhaven Tenants Association, <br />questioned how the proposed project would benefit low and <br />moderate income persons. <br /> <br /> Mr. Buck stated that the project would provide real <br />estate taxes, parking, employment opportunities and <br />additional space for businesses to grow. Mr. Buck also <br />stated that as the UDAG grant was paid back to the City, <br />the funds could be used for community development <br />projects. <br /> <br />Mr. Towe requested that Mr. Redinger provide some <br /> <br /> <br />