HomeMy WebLinkAbout11/20/81November 20, 1981
The Council of the City of Waterloo, Iowa, met in Special Session at City Hall
Council Chambers, Waterloo, Iowa at 1:30 P.M., on November 20, 1981. Mayor
Leo P. Rooff in the Chair. On Roll Call: Present: Getty, Wilharm, Roehr,
Bowers and Burton. Absent: Penaluna and Dowie.
81451A - Moved by Roehr, seconded by Wilharm
that copies of the call for the special meeting of November 20, 1981,
at 1:30 P.M. be received and placed on file. Motion carried,
81451B - Mayor Rooff stated that the purpose of this meeting was to allow the
two companies to submit their proposals for the development of Conway
Plaza to the Council.
First person to speak was Kenneth A. Lockard, Vice President -Secretary
of Ken -Jan, Inc.
Mr. Lockard stated that if his company was chosen to do the project,
all of the work would be completed in house.
Mr. Lockard continued to explain the materials that his company proposed
using and ran through the basic design of the Plaza. All present build-
ings would be demolished and replaced with new.
Wendell P. Lockard, President of Ken -Jan, Inc. ran through soma of the
high points of the proposal which were as follows:
Estimated development cost -
Land -furnished by the City of Waterloo
Construction $1,610,000.00
Interim Financing 100 414.00
Points 64,400.00
TOTAL $1,774,815.00
There will be total square footage of 33,544 excluding basement area.
Tenants will be sought that are supportive to Conway and the Hotel such
as restaurants, beauty and barber shop, drug and gift shop, flower and
photo shops, ready-to-wear, shoe store, jewelry, dry cleaning outlet,
gameroom, etc. ..Potential office clients are accountants, attorneys,
travel agent, insurance, advertising agency, employment agency, lending
institutions, etc.
Ken -Jan, Inc. will make every effort to keep existing businesses in
operation in the immediate area.
Wendell Lockard continued that if the project projections held true, the
rental space would probably be $10 to $11 per square foot.
Lockard stated that if the project was given to this company, they would
want to follow the same guidelines as the completion of the hotel.
Lockard stated that he would like to thank the Mayor and Council for
the opportunity to make this presentation.
81451C - Motion by Bowers to receive and place on file the above proposal.
Seconded by Burton. Motion carried.
BREAK UNTIL 2:30 P.M.
Bill Miller, President of Miller Construction Co. presented the proposal
for development from Conway Plaza Development Company. Mr. Miller
stated that Conway Plaza Development Co. is a partnership of Miller
Development Co. of Waterloo and Thorson-Brom-Broshar-Snyder Architects
of Waterloo.
Mr. Miller continued that if Conway Plaza Development Co. was successful
with their proposal that the project would then become partnership
between the City andConway Plaza Development Co.
November 20, 1981 Page 2
Mr. Miller then covered some of the history of both companies as
outlined in the proposal.
Wayne Snyder, Secretary/Treasurer of Conway Plaza Development Co.
presented the proposed floor plan for the project. He stated that
the present two story building connected to the Waterloo Building
would remain and would be totally remodeled and refaced. The present
businesses would then have the option of moving to this location before
the rest of the project is started. Snyder continued that the
completion of the project will be scheduled with the completion of the
hotel.
Mr. Miller stated that the forecast of lease space would probably run
$12 per square foot, $11 per square foot if the UDAG grant is approved
and $10 per square foot if the tenants would like to do their own
decorating. Miller continued that the estimated construction cost
would be $1,300,000 with 39,107 square feet with 27,750 square feet
leasable
Mr. Miller expressed his appreciation for the opportunity to offer
this proposal to the Mayor and City Council.
81451D - Motion by Bowers. Seconded by Wilharm to receive and place on
above proposal. Motion carried,
The Mayor announced that the Council would make their decision
next regular meeting.
81451E - Moved by Wilharm, seconded by Getty that the Council adjourn.
carried.
Larry P. Burger
City Clerk
file the
at the
Motion