Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Demolition topic
No spam. Unsubscribe anytime.
EDA says demolition prep underway for Majestic Ballroom; city will front costs with deferred assessment waiver
Summary
City staff told the EDA the property owner agreed to demolition and that the EDA will front demolition costs via its fund with a deferred assessment waiver recorded against the property; staff expects contractor mobilization within roughly two weeks following a preconstruction meeting.
EDA staff told members the property owner cooperated after years of negotiation and that the city would use EDA funds to pay demolition costs up front, with a deferred assessment waiver recorded to seek reimbursement when the property is sold. A staff speaker explained that the deferred assessment is recorded against the property and would be captured at time of sale, which places the EDA in a priority position for reimbursement under that mechanism.
On scheduling, staff said they anticipate a preconstruction meeting this week and expected the contractor to mobilize to the site within two weeks, moving the project toward demolition. The packet includes an inspection and report from LHB; staff emphasized that designating the building substandard under the cited statute is a necessary statutory step but does not guarantee future TIF assistance for redevelopment.
