HomeMy WebLinkAboutSupplemental Attachments - 12/18/2017 r7Vl�wl f��
December 11, 2017
Dear developer/ business owner:
You have been identified as having potential interest in the ability to
submit a request on City-owned property.
Please find attached a Request for Proposal packet for the City building —
commonly referred to as the Public Market building, at 327 West 3rd
Street.
The City of Waterloo works to give notice to multiple parties for the
development of city-owned land and buildings that are available for
redevelopment. This building is currently vacant, and the City would like
to see a private entity lease the building, for a use that would be
compatible to the abutting Expo Grounds area.
The proposals are due by 5 pm on Thursday 25th. Please submit
them to the Planning office at 715 Mulberry Street, attention:
Adrienne Miller.
The attached packet will give further details on the lease details, but also
on the information of what you tend to do with the property, and on what
timeline. The City's goal is to work towards the best redevelopment of
this site for the overall use of the Expo Grounds area, and uses that may
occur on those grounds, as well as providing for services in Downtown
Waterloo.
The City is anxious to move forward with this process, and would hope to
have the RFPS reviewed by the week of February 5th, and a
recommendation to City Council at their February 12th or 19th meeting.
If you have any question or concerns, please contact myself or Adrienne
Miller at this office. If you would like to visit the site, please coordinate
with Adrienne for a time to see the building and site.
Sincerely,
Noel Anderson
Community Planning & Development Director
Cc: Chris Western, Brownfields Planner II
Adrienne Miller, Economic Development Planner 11
REQUEST FOR PROPOSAL
327 West 3rd Street (Public Market)
The City of Waterloo is interested in the sale of redevelopment of 327 West 3rd Street. Formerly the Public
Market within the past 1.5 years.
The City is interested in a lease of the building, as the site is abutting the Expo Grounds area, so the City
would maintain ownership of this key location. The reuse of the site is paramount to a symbiotic and
compatible relationship to the Expo Grounds site. The flowing scoring system and evaluation system will
be used to determine a good project to move ahead for reuse/lease of the property.
Property information:
Address: 327 West 3rd Street
Zoning: the site is zoned "C-3" Central Business District. The site will permit most commercial uses for the
site. The Future Land Use Map designates the area for Commercial uses.
In close proximity is the Cedar Valley Sportsplex, the Expo Grounds, the SingleSpeed Brewery. All sites
surrounding the site for multiple blocks are zoned "C-3" Central Business District.
Additional: The site is located within the City of Waterloo Consolidated Urban Revitalization Area (CUBA)
and the Downtown Waterloo Tax Increment Finance (TIF) District. Either of those designations can allow
for incentives to help with redevelopment of the site.
Total Assessed value is $653,260
Total site size is 0.882 acres.
Total building size (see diagram) is 7,700 sq. ft.
There is abutting and adjacent parking areas for use with the site, as well as some on-street parking.
Site is located along Highway 218.
Highway 218 has over 34,000 vehicles per day.
Staff would invite interested parties to present your best project for the staff to review, rank, and present to
City Council. Review Criteria to be considered after submittal:
1. Project
Is it renovation? Write a detailed description of the project, Please include estimated construction
costs, details of what is to be renovated (i.e $10,000 in new equipment investment, or renovations
of painting, new walls, estimated at$8,000.) A site plan is not required, but would be helpful for
any major changes to site layout or traffic flow.
2. Timeline
What is the proposed timeline for the project to commence? Please be inclusive as possible for
when you think different steps would occur(i.e when would renovation, occupancy, opening most
likely start and be completed). If the project is to be phased, please indicate timing of phasing, cost
breakouts of each phased cost, etc.
3. Financing
How is the project to be financed? The proposed developer must provide evidence of financial
ability to timely commence and complete the project. This information shall be kept confidential
and may be by letter of intent from bank for financing or other similar documentation.
4. What other factors are involved?
Are you asking for any other city help through incentives by City, etc.? Example: Are you asking
for free lease rent for first year but then agreeing to step up rent as businesses continues.
The site is located within the CURA and Downtown TIF. The CURA sheet is attached. TIF
incentives may be available for added value to site, Base value of site is $653,260. Tenant
would be expected to pay taxes on property (as City buildings leased out for private use are
subject to taxes)
5. Proposed Use
Proposed developments will be reviewed for their design, layout, good design of space, land use,
etc. to see how they fit in with other nearby uses, in accordance with the Future Land Use Map and
Comprehensive Plan for the City of Waterloo. Specific to this use, we will be evaluating how the
site/use functions in conjunction with the abutting Expo Grounds area—that is, what are the hours
of operation, what uses may be helpful to users of the Expo Grounds for buying food, goods, use of
restrooms, in correlation with leasing of the Expo Grounds for weddings, receptions, special
events, etc. How do you see your use fitting in the help this overall area?
6. Traffic Flow
Any new parking layouts, curb cuts, etc. to make traffic flow smoothly. Should be shown on a site
plan. Currently there are curb cuts to the site, nearby parking, on street parking.
7. Economic Impact Considerations
Along with the information summarized in #2 above, the creation/retention, and type of jobs for the
community; services offered; new downtown commercial tax base creation, etc. will ball be factored
in decision.
8. Price
While the lease proposal will not be sole determining factor, it will be an important part of the
equation, in conjunction with other criteria, to assure the City is serving the citizenry in a fair and
beneficial manner. The Minimum Bid Proposal for this project site is , The lease
agreement could be phased to have lower lease payments up front with going up to market rate
over a one year or multi-year period.
The City of Waterloo has a Sale of Property Policy which guides its decisions for selling land in
exchange for sales price, plus future investment and tax base creation. The criteria set forth within
this Request For Proposal are based upon those policy intentions.
The primary criteria shall be the quality of development, type of land use, financial
capability, long term tax base creation, and reliability of the developer, above the purchase
price.
The City reserves the right to reject any and all bids.
City of Waterloo: Proposal Form
Property to be bid upon: 327 West 3rd Street
Name in which property would be transferred:
Name of bidder:
Address of bidder:
Phone number of bidder:
Fax number/email of bidder:
My lease proposal for 327 West 3rd Street:
Other notes, conditions:(Please provide attachments to address Numbers 1 through 8 on previous sheets
above)
Furthermore, I understand the zoning, building, and fire code provisions for the project and believe my
project will work as described.
Signature of applicant/bid
The City reserves the right to reject any and all bids.
110
70 BLDG 1
[7700]
r`
f r
Ats
A
E ,•a
a
4�
f p�
AIMP
r
_41
�p 4 s7 bb
rMap created with AnctlA$-C!RYr'8hi iC t 1992-2WI ESR]Inc.
CONSOLIDATED URBAN REVITALIZATION AREA
APPLICATION FOR PROPERTY TAX EXEMPTION FOR IMPROVEMENTS UNDER THE PROVISIONS OF THE CONSOLIDATED
URBAN REVITALIZATION AREA PLAN ADOPTED BY THE CITY COUNCIL OF THE CITY OF WATERLOO.
The Consolidated Urban Revitalization Area(CURA)allows property tax exemptions on improvements to property located within
its boundaries that meet the following criteria:
1. At least a 10%improvement to the value of the residential property. At least a 15%improvement to the value of commercial
property if a building was previously on the site. If commercial property was previously vacant,all actual value added by the
improvements is eligible for tax exemption.
2. Be located within the CURA boundaries(a map of which can be obtained from the City of Waterloo Community Planning&
Development Department.)
3. This application must be filed with City prior to the 1St working day of February following the year when the improvements are
completed to comply with the timeline of the State Code of Iowa, Section 404.4 unnumbered paragraph 2. However,a single
application may be filed upon completion of an entire project requiring more than one year to construct or complete,providing
prior approval has been granted by the City Council or County Board of Supervisors.
Please fill out the following information for your application to be submitted to the City Council.
NAME: SIGNATURE:
ADDRESS:
TELEPHONE: DATE:
A. What is the Address of the property being improved?
What is the Legal Description of the property?(May be available at County Recorder's Office on 2nd floor of the Courthouse)?
B. Indicate desired exemption schedule:(1 or 2)
1. One Hundred Percent(100%)exemption for three years on the actual value added by improvements;
2. A partial exemption on the actual value added by improvements according to the following schedule:
a. First Year----------80% d. Fourth Year-------50% g. Seventh Year------30%
b. Second Year------70% e. Fifth Year---------40% h. Eighth Year--------30%
c. Third Year---------60% f. Sixth Year---------40% i. Ninth Year---------20%
j. Tenth Year---------20%
C. What was the nature of the improvement(s)?
D. City of Waterloo Building and Inspections Department Information:
Permit Number: Date permit was issued: Total permit(s)valuation:
E. What was the cost of the improvement?
F. Estimated or actual date of completion of these improvements?
G. If this is not a singe-family dwelling unit;which you own and reside in,will these improvements create a displacement of your
tenants? Yes No
CITY OF WATERLOO
APPROVED DATED: RESOLUTION NO:
DENIED
BLACK HAWK COUNTY ASSESSOR
APPROVED DATED:
T.J. Koenigsfeld
DENIED Black Hawk County Assessor
Note: The improvements to your home or business may not change the assessed value.
Note: City Council approval does not guarantee tax exemptions. The application must be reviewed and approved by the
Black Hawk County Assessor's Office for criteria eligi