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Council advances downtown hotel effort: hires National Register consultant and accepts feasibility bids
Summary
Council moved to hire a consultant to pursue National Register listing for three downtown buildings (auditorium, Kelly Hotel, Commerce Bank) to access historic tax credits, and accepted bids for a market feasibility study for a proposed Merchant Hotel project while staff and the developer finalize the project scope and financing.
Council discussed two related downtown redevelopment items: hiring a consultant to prepare National Register nomination materials for three downtown buildings and accepting bids for a market feasibility study for a proposed hotel/lodging project.
Staff described an agreement with consultant Terry Foley to pursue listing of the auditorium, the Kelly Hotel and the Commerce Bank building on the National Register of Historic Places, which would allow access to federal/state historic rehabilitation tax credits that staff estimated at "about 45¢ on the dollar." The consultant fee discussed in the packet was $11,000; staff said one property owner offered a $3,500 contribution toward that cost.
Staff also summarized RFP responses for a market feasibility study for the Merchant Hotel project and recommended Gray as the lowest and best bidder. Because the developer is still negotiating the project prospectus (staff cited the example of a page listing 57 units in a current draft), the council agreed to accept the bids for future use but to hold off on executing a feasibility contract until a firm financing and development plan is in place. "We're still trying to get through that, but we need to go ahead and accept these bids," staff said, adding that the city might not execute a contract until the developer and staff finalize the scope.
Council members asked clarifying questions about pricing, timelines and consultant experience; staff said the consultant team is certified by the state historic preservation office (SHPO) and has experience with similar nominations. The council moved both items forward to the next meeting for final action when agreement terms and developer prospectus details are resolved.
