1 7 10 Council Roundhouse Presentation
1/8/20101 Roundhouse Parking Lot Redevelopment January 5, 2010 update Planning History • Redevelopment identified in plans – 1975 plan – 1996 plan – 2002 plan REDEVELOPMENT PLAN HISTORIC
MILL RIVER Office of Planning and Development City of Northampton Massachusetts June 2002 Technical Revisions May 2005 This plan was completed with funding from p – 2005 study • Rezoning–
1997 downtown plan • City acquired property 1973/1975 • Council property committee late 1990s the Attorney General’s Brownfields Grant Program and revised in coordination with a grant
from the EPA Brownfields Pilot Program. City Council Actions • Surplus and authority to sell – Finance (City Property) approved – EDHLU approved – Unanimous vote full City Council –
Public input process for surplus • Bid Award – Finance Committee approved – City Council consulted • Final terms – Finance and City Council consulted Roundhouse Redevelopment • Will
be second or third largest city taxpayer (after Smith College and new Kollmorgen) • Critical mass for downtown vibrancy • Transit Oriented Development • Expand public parking • Improve
access to parking lot • Extend affordable housing term Proposal Criteria • Experience with complex projects • Largest revenue to City over ten years • Development that: – Creates additional
parking – Creates new commercial space – Expands useable park land – Respects City history/character Process • RFP, Proposal, Evaluation– 2006 – 18 packages mailed, 40 emailed – Extensive
press coverage – Alternative-lower consideration over 10 years – Alternative highly speculative – Council and Finance consulted • Special Permit • Board Site Plan Approval • CB Architecture
Approval • Litigation
1/8/20102 Economic Develop., Housing, Land Use All public meetings • March 8,2004 • April 11, 2005 • June 13, 2005 • October 27, 2005 • November 14, 2005 • December 7, 2005 Public Hearing
• February 13, 2006 • August 14, 2006 City Council Finance Committee All public meetings • November 29, 2005 • December 1, 2005 –Voted to surplus & authorize sale • January 24, 2006
• July 25, 2006 – Voted to support bid award • August 15, 2006 City Council Public meetings (on TV and newspapers) • City Council--December 1, 2005 – Voted to surplus (first reading,
9-0 vote) • City Council– December 15, 2005 – Voted to surplus (second reading, 9-0 vote) Additional executive sessions – Consultation for sense of Council (no votes) Planning Board
Special Permit-USE as HOTEL • Permit issued Nov. 1, 2006 (6-0 vote) – October 26, 2006 Public Hearing – Site Plan appeal extends permit – Substantial construction by Nov. 6, 2009 – Site
work begun April 16, 2007 • Environmental cleanup • Cleanup tailored for hotel (pool, elevator, etc) Planning Board Site Plan How SITE is developed • Permit issued August 17, 2007 (6-1
vote) – June 14, 2007 Public Hearing – July 19, 2007 Public Hearing – August 16, 2007 Public Hearing – Site Plan appeal extends permit – Substantial construction by Aug. 22, 2010 – Site
work begun April 16, 2007 Central Business Architecture BUILDING DESIGN • Permit issued June 12, 2007 (3-0 vote) – January 9, 2007, informal session – February 27, 2007, informal session
– May 15, 2007, Public Hearing – May 29, 2007 Public Hearing • Applicant submits REVISED design
1/8/20103 Central Business Architecture BUILDING DESIGN • New Permit issued Dec. 4, 2007 (5-0 vote) – October 23, 2007 Public Hearing – November 27, 2007 Public Hearing – Site Plan appeal
extends permit – Substantial construction by Dec. 9, 2010 – Site work begun April 16, 2007 Settlement • Utility relocations – Pulaski Park work starting • Extended affordable housing
term – Capital improvements to project • Parking for affected abutters – Roundhouse – New South Street apartments • Changed building design • Legal costs Manufactured Gas Plant 1856
to 1951 • Attorney General and EPA assessments • Bay State Gas site assessment • Bay State Gas clean-up (as of 6/08) – $6.4 million & 12,000 tons MGP byproducts Financial Terms • Minimum
of $1,362,000 over ten years – Min. $497,208 property tax (FY2007 $) – Min. $864,849 occupancy tax (FY2007 $) • Guaranteed by $1,362,000 mortgage – BEFORE equity investment • Actual
revenue will be much higher: – Property tax rate up with override – Hotel tax increased by 50% (4 to to 6%) Terms • Public Parking Garage, within three years of hotel • Public elevator
• 30’ Pulaski Park expansion • Pulaski Park Internet Pulaski Park • Expand by 30’ • PUBLIC park • BPW examining opportunities
1/8/20104 Consideration provided (rough) Elevator $ 150,000 Staircase $ 30,000 Pulaski Park and internet $ 60,000 Settlement Improvements $ 110,000 Parking Garage (vs surface parking)
$3,000,000 Total Consideration $3,350,000 Plus: Far in excess of $1.362 million in taxes over ten years Parking • Replace existing public parking • Parking for hotel • Parking for New
South St. Apartments • Parking within three years of hotel Structured parking when City provides: est. $20,000/space Contract Extensions Currently to February 15, 2010 • Bay State Cleanup
– More extensive and slower than planned • Bay State final agreement – Longer than planned • Financing – World financial recession • Financing available • Financial performance guarantees
underway City Benefits from Extensions • Construction scheduled for 2010 • Advanced building plans – Assisted with Bay State Cleanup – Adds value to site • Advanced utility relocation
plans – Adds value to site – Saves City money from Pulaski Park relocation • Pays for settlement expenses • Legal obligation to developer