Title
Adaptive Reuse/Building Rehabilitation Program for 722 Main Street
Body
REPORT (No Motion):
An application in the amount of $150,000 was received from Jansen Constuction Company for a project at 722 Main Street. Upon purchasing the building they are proposing to renovate the building for a possible restaurant/retail space on the first floor, renovate the second floor to house their Corporate Offices and renovate half of the basement for storage purposes. As with all applications a staff review was conducted using the worksheet and project evaluation matrix presented in the application information packet. As part of the review process, an application must obtain an average score of 70% or higher in order to be considered. The staff review of this application resulted in an average score of 31.75%. The review recognizes the substantial private to public match for this project which would support major improvements on a prominent building on Main Street. However, the application details do not support a strong concept for a mixed use component. The application does address a possible restaurant space but renderings do not indicate elements necessary for a restaurant use, such as plumbing, a grease trap, stove hood or sprinkler system. Additionally, the application failed to provide adequate specifications on materials used for the renovation. Staff would encourage the applicant to reapply for funding in the 2013-14 fiscal year with a more defined project and inclusion of greater detail.
BACKGROUND:
This fiscal year the Oregon City Urban Renewal Commission set aside $150,000 into an Adaptive Reuse/Building Rehab program to encourage investment and upgreades to private property by encouraging significant rehabilitation that improves the value of existing commercial property and supports the highest and best use of commercial property within the Urban Renewal District.
The program is a matching grant intended to fund a limited number (one or two) medium- to large-scale internal rehabilitation (non-facade) projects. A typical project will be combined minimum of $100,000, with a maxiumum offor any one project of $150,000. Particular emphasis and priority is placed on rehabilitation projects that consist of quality construction and add value to the urban renewal area.
At the October 3, 2012 meeting the review committee had approved an application from Benjamin Billups/Billups Worldwide for this same property. Since that time, the City received a letter from Billups Worldwide withdrawing it's application for the Adaptive Reuse grant they received due their intentions of selling the building.
BUDGET IMPACT:
Amount: $0
FY(s): 2012-13
Funding Source: Urban Renewal