Redevelopment agency previews 10,000-sq.-ft. office project at 5580 South Adams Avenue; $100,000 incentive noted

Tom Monette, speaking for the Redevelopment Agency, updated the board on a planned two-story commercial building at 5580 South Adams Avenue and described the project as a roughly 10,000-square-foot office development with owner-occupied tenants and site work including underground stormwater detention and additional parking.

The project “is something we have been, looking forward to … literally for decades,” Monette said, adding that much of the building is already leased and that the developer and some tenants will be owner-occupied, which staff view as supporting long-term sustainability. Monette said the main floor likely will include a dental office and that a title company is expected to occupy upper-floor space.

Monette described design details the developer is proposing: added parking areas accessed from Adams Avenue and 5600 South, buried stormwater detention to reduce green-space impacts, and exterior glazing intended to match nearby buildings such as the library. Mayor (name not specified) commented that the landscaping appeared to allow some trees and drought-tolerant plantings; the mayor said, “Should be water wise.”

Board member Jeff raised concerns about the condition of 5600 South and asked what repairs would be needed to support construction traffic. “I think it looks great. But I drove on that road the other day and I'm just wondering what kind of repair do we need to do?” he asked. Monette said staff would check with Jake, a staff member, about road impacts and any needed repairs.

Monette said the redevelopment agency previously approved $100,000 in incentive funds that would help with stormwater, curb and gutter, parking and utility infrastructure for the project. He also said the sale of the property would move funds from the RDA to the general fund and that city leaders planned to reserve those one-time funds for parks and for potential grant matching. Monette cautioned that the proceeds are not available for spending until project completion and that the RDA retains an option to repurchase the property if the developer does not finish within the agreed timeframe: “if they don't complete the project within a certain day, and I don't recall when that is, it's a couple years out actually, we actually would be able to buy that back,” Monette said.

Monette gave a high-level schedule: a development review committee meeting is scheduled the coming Tuesday, followed by planning commission review and permitting; the developer expects to break ground in late spring. Monette also confirmed that the sale proceeds are being held in an interest-bearing account: “Yes, it is in an interest bearing account.”

No formal action on the project was taken at the meeting; the board approved the meeting agenda and previous minutes by general consent earlier in the session and later moved to adjourn, with the motion seconded and carried.