HomeMy WebLinkAboutSupplemental Attachments - 3/12/2018A)br ,' Sw
CITY OF WATERLOO, IOWA
COMMUNITY PLANNING AND DEVELOPMENT
715 Mulberry Street • Waterloo, IA 50703 • (319) 291-4366 Fax (319) 291-4262
Memorandum _
To: Mayor Hart
Council Members
From: Noel Anderson, Community Planning & Development Director
Date: March 12, 2018
Re: Salvation Army area for master planning and development lots
The request before you is by Salvation Army to acquire city lots at 8913-23-429-022
and 8913-23-429-023 (just east of 55 Franklin Street and west of Salvation Army site at
89 Franklin Street) for $6,060 (the assessed value of land).
The City
The City acquired the lots through the 657A process to eliminate blighted and vacant
homes in the Franklin Street Corridor. The City has had, to date, one project look at the
sites for redevelopment (see attached). That project would have had an estimated new
taxable value of $400,000, paying over $8•,890 per year in taxes.
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The Salvation Army
The Salvation Army is requesting to buy the lots from the City of Waterloo for $6,060
(the assed value of land for the two parcels). As you can see from above, that amount
would be less than the first year of taxes paid for a future building rebuilt at this site. The
Salvation Army has done a great job assembling their campus, and the City has
previously vacated and sold land to them to help in this purpose (see asterisk on map).
They are looking for additional land for more parking on site.
Land Use
In Planning for City development and redevelopment, you will often time here the
phrase the "highest and best use." Much like real estate, it is all about location, location,
location.
The City of Waterloo continues to see great progress in the transformation of the
Franklin Street corridor area with the construction of
➢ Salvation Army Men's Shelter in 2004
➢ East Side Used Furniture in 2004
➢ the Rose of Waterloo assisted living facility in 2006
➢ the Earth Beauty Supply strip mall in 2013
➢ the CVS Pharmacy being built in 2014
➢ the renovated KWWL office building in 2016
➢ and the All -In Grocers planned for 2018.
CITY WEBSITE: www.cityofwaterlooiowa.com
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This major corridor within the community is a growing source of new development, new
job creation, and a new facelift along this area of the community.
The City of Waterloo and Salvation Army need to continue to work in partnership for the
redevelopment of this area. The Salvation Army is a highly important partner in this area
and, as you can see from the map, has a good amount of land for future parking
expansion, with some more opportunities along Argyle Street for more land
development. It is staff's opinion that a commercial focus should be employed for the
lots abutting Franklin Street and a partnered approach to acquiring more land along
Argyle Street should continue to help the Salvation Army Campus. Privately owned
commercial lots on Franklin would need the on -street visibility and exposure for success,
whereas the Salvation Army is a destination type location that does not need more
added visibility than they already have at the Franklin Street and Highway 63
intersection.
The office building, at 5,000 sq. ft. is actually shown on the two City lots, and one lot
owned by Salvation Army. It is staff's request to continue to work with the Salvation
Army on a proposal that would allow the City to gain that parcel (8913-24-429-024),
transfer ownership of the lot (8913-23-429-011) along Argyle owned by the City, and
work with the Salvation Army on further Argyle acquisitions.
Summary
The City of Waterloo thanks the Salvation Army for their current, past, and future
partnerships, programs, and investments in the City of Waterloo and its citizenry. We
hope to continue to work with them to create a growing a vibrant campus on and around
their current site at 89 Franklin — with the idea that the highest and best use of land will
include a campus of them and others to truly redevelop this area. As we are witnessing
and beginning in the Walnut Neighborhood nearby, it takes many partners to truly
revitalize an area, and this area -- as a part of the overall Franklin Street corridor, will
continue to see new project potential and we need to be ready to help make it happen.
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