Redevelopment commission solicits developer proposals for bank building; drive-through demolition to start soon

Redevelopment staff reported that they held nine developer tours of the vacant bank building and that proposals are due at noon on the 20th. A committee will review submissions and hold interviews in April with selected developers before the full commission considers a recommended partner and financing options.

Officials said the procurement allows developers to include financing in their bids but the commission retains the right to pursue outside financing if it can secure better terms. The presenter said demolition of the stand-alone drive-through is a separately-bid project expected to be completed by the end of the month once the contractor has utility locates; the gas line has been disconnected and town staff will disconnect water and power when the contractor calls locates.

Commissioners discussed using the rear parking lot as a staging area during construction and committed not to block a private business's existing parking access. The commission indicated if the project proceeds as scheduled, construction on the building could begin in mid-to-late August after design and financing steps are complete.

As next steps, the redevelopment committee will review developer proposals, hold interviews, and bring recommendations to the commission in April.