Library Block Development Presentation 1-21-2015

Library Block Redevelopment:
Past, Present and Future
Presentation assembled by City Management Team:
Larry Bierke, City Manager
Joe Carroll, Community Planning and Development Director
Howard Crofoot, Public Works Director
Jessie Lee-Jones, Public Library Director
With:
Troy Hoekstra—Owner, United Development Solutions
Jeff Grundahl—President, NCI – Roberts Construction, Inc.
Michael Brush—Architect, Plunkett and Raysich Architects
Scott Kramer—Architect, Plunkett and Raysich Architects
2
What is the Library Block Development?
Subject to proper approval:
´ A public–private partnership to redevelop the “Library Block”
´ Demolition of seven buildings
´ Construction of two larger buildings- a 22,000 sq. ft. Public Library
and a 72 room Holiday Inn Express.
´ Renovation of current Public Library into a SWCAP health clinic
with commercial lease space.
´ Parking: 55 underground spaces, 42 stall surface parking lot
3
Brief History of Redevelopment Effort
´ 2009—Platteville Library Board began investigating Library expansion or new
construction.
´ Spring 2010—Library Director presented Site Evaluation and Selection Study to
City Council.
´ June 2010—Motion from City Council not to accept Site Selection Study
recommendation. (Queen B Radio site).
´ January 2011—Downtown Development Plan was adopted by City Council. The
Library Block was identified as a future redevelopment site with options of including
a new library, underground parking, commercial space, student housing, or office
space. (Page 49, Site #6)
4
´ August 2012—Library Board and City Council decided to hire a grant writer to
seek funding to conduct a feasibility study.
´ January 2013—WEDC Planning Grant awarded to City of Platteville.
´ June 2013 —Representatives from the Main Street Program, Library Board,
SWCAP, City, WEDC, and UWP Real Estate Foundation began meeting to talk
about pursuing redevelopment of the Library Block.
´ July 2013—Redevelopment Feasibility Study for Platteville Library Block Project
was completed.
´ September 2013- Developer Troy Hoekstra of United Development Solutions
expressed an interest in the project.
´ June 2014—City Management Team began meeting to work on details of
redevelopment project.
´ July 2014—Architects presented initial plans to the Plan Commission.
´ January 2015—Attorneys started working on Development Agreements.
5
The Tentative Financing Plan
$4 Million
– New Market Tax Credits
$ ?
– Tax Incremental Financing (TIF)
$1.5 Million – Private Equity Investment
$ ?
– Private Financing
___________________________________________
$ 16 Million Total Costs for Development
6
Will my tax dollars be used to pay for this?
´ Properties outside of the Library Block will not be contributing tax dollars for
this development.
´ With a development proposal of this size, it is typical for incentives to be offered
to assist with the additional costs of redeveloping property such as acquisition,
demolition, underground parking, etc.
´ The City will be offering a TIF Incentive. The funding for the Incentive is paid for
by the new tax base generated as a result of this redevelopment.
´ Donations to help pay for interior Library amenities will be accepted.
7
How will development pay for a new library?
´ The City is using the new tax revenue generated from this additional development
to pay an upfront development incentive to the developer.
´ The developer will lease the new library building to the City for seven years for $1
annually. After year seven, ownership of the building will transfer to the City.
´ The Library and the Library Foundation must cover all furnishing, fixtures, and
equipment/technology expenses for the new facility.
8
Why should the City accept this offer
of a new library building?
´ This opportunity allows the Library to maintain operations in a location
that supports downtown businesses.
´ Circulation and service demands continue to grow, space constraints limit
our ability to serve patrons fully and effectively.
´ This facility will improve access to information resources and broadband
internet for the community and surrounding areas.
´ The Platteville Public Library needs more space, the City has not prioritized
a library project for the foreseeable future. This development on Main
Street meets immediate and long term needs for the community.
9
What Will be Included in New Library?
´ Adequate shelving space for print and non-print collections
´ 100 person capacity Meeting Room
´ 10-12 person capacity Conference Room
´ Study Rooms for private/group work
´ Children’s Program Room
´ Designated Teen Area
´ Seating for leisure reading and Wi-Fi access
´ Improved working conditions for Library Staff
10
11
12
Future Schedule:
´ Feb-March 2015—Finalize plans, present to Library Board & Plan Commission
´ March-April 2015—Finish Development Agreements, provide to City Council
´ April-May 2015—Complete remaining approvals and property acquisition
´ July-August 2015—Demolition and site preparation
´ August 2015-June 2016—Construction
´ July 2016—Occupancy
13
Questions?
Troy Hoekstra—Owner, United Development Solutions
Jeff Grundahl—President, NCI – Roberts Construction, Inc.
Michael Brush—Architect, Plunkett and Raysich Architects
Scott Kramer—Architect, Plunkett and Raysich Architects
Larry Bierke, Platteville City Manager
Joe Carroll, Platteville Community Development Director
Howard Crofoot, Platteville Public Works Director
Jessie Lee-Jones, Platteville Public Library Director