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City staff, developers outline phased Memorial Block plan; appraisal values private parcels at about $10.8 million
Summary
Staff and the Memorial Block development team updated the council on predevelopment work, citing a joint appraisal of privately held redevelopment parcels at about $10.8 million and reiterating that the current predevelopment agreement does not sell public land.
City staff and the development team gave the council a status update Monday on the Memorial Block predevelopment work, emphasizing that the current stage is informational and that no sale of city land is planned.
The update covered community engagement, third‑party financial due diligence, a jointly-selected land appraisal, and parallel feasibility work to identify options for relocating the city’s central fire station and for a possible public health and safety building.
Why it matters: the Memorial Block sits at the center of downtown redevelopment discussions. Staff and the developers say an integrated development that includes housing, civic space, commercial uses and underground parking would require complex phasing and multiple funding sources; the city and developer teams are still assembling the program and financing approach.
Key points from staff and developers - “The development parcel was valued at approximately $10,800,000,” project lead Cara (City Business & Workforce Development) told the council; city staff later circulated the full appraisal for review. - The predevelopment agreement signed in March 2024 allows developers to advance design and funding work; according to staff, developers would buy privately‑held parcels within the dotted project boundary, deed that land to the city, and the city would enter a long‑term ground lease with the developer should both parties reach a full development agreement. - Staff said third‑party financial due diligence found the developer team to be “strong local partners” but cautioned that the project will require phasing and a mix of public and private funding. HUD technical assistance has been engaged to advise on financing options.
Next steps and public involvement The developers will deliver a conceptual program and preliminary budget in early April. Staff said a parallel feasibility study for moving fire operations and for a public health and safety facility is already underway. If both sides decide to proceed, the city would return to council with a proposed interim development agreement that would include valuation methodology and more specific financing commitments. Staff said the predevelopment agreement on the table does not commit the city to sell any public land.
Public reaction and council questions Several public commenters at Monday’s forum raised concerns about process and transparency. Staff responded by pointing to posted materials and promised additional community engagement with visuals once the developers deliver concept designs.
