Redevelopment commissioners invite owner of Medical Arts building for update after property placed back in TIF zone

The Beach Grove Redevelopment Commission said it invited the owner of the old Medical Arts building to attend its next meeting to explain development plans and any requests for financial support.

The chair reopened the meeting after a brief weather-related recess and introduced the item, saying the commission had invited the building owner and expected an update in March. David, who briefed the commission on the property, said the building transferred ownership about a year ago to Sherik Companies and that Michael Sherik is the CEO. “I did call Michael Sherfik and let him know that we had done that,” David said, referring to the property’s return to a TIF zone.

David told commissioners that demolition work began under the new ownership and that recent interior lights suggest some activity but that little visible progress had occurred over the past eight months. Commissioners also discussed when the property was returned to a TIF zone; one speaker said it was put back into a TIF zone “a few months ago,” another referenced October, and David described it as “in a new tiff zone now instead of the old tiff zone.”

A commissioner urged that when the owner appears the commission also invite MSI to give a comparable presentation so the RDC can review construction timelines and keep its redevelopment plan current. That speaker noted the RDC had previously invested “125 or 150,000 or something” in the property but did not state an exact figure.

The commission asked staff to continue outreach and to have the owner appear in March so the body can better understand the developer’s timeline, what assistance might be requested and how the project would fit the city’s economic redevelopment plan.