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Developers negotiate loan-forgiveness change and parklet condition for downtown demolition project
Summary
Council discussed revised terms with owners of 84–88 Main regarding demolition, a required parklet if they donʼt rebuild, and a proposed increase in loan forgiveness from $40,000 to $54,000; staff said failure to meet parklet or timeline conditions could forfeit loan forgiveness.
City staff updated the mayor and council on negotiations with the owners of the downtown properties at 84–88 Main Street about demolition, required mitigation if a replacement building is not constructed, and the structure of a loan-forgiveness incentive tied to demolition and redevelopment.
Staff said the owners declined to subdivide the parcel but were willing to accept a contract provision requiring them either…
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