Minutes 07/16/1998 - Laserfiche WebLink

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.. J, 09 THURSDAY, JULY 16, 1998 Council recessed at this time and reeonvened in the Lower Level conference room of the Municipal Building to hear a presentation on plans for the development of the former P,. P. Thomas site. Mr. Tom Harned, Assistant to the City Manager for Development, began the discussion by noting that it was appropriate at this time to consider a name change for the site to be developed~ and stated that Mr. Reynolds had suggested the F"~name of Academy Place, in recognition of the history of the location. Council Member Haskell asked if there was a citizens advisory group on the project, and was told by Mr. Harne, d that there was an informal one. Council Member Dallas noted that the Thomas name also had a positive connotation in the neighborhood, related to a Professor Thomas who had been a prominent member of the community. Mr. Stewart Hubbell, representing the firm of Mattern and Craig ofP, oanoke, Virginia, then moved into his presentation on the development plan for the site. Mr. Hubbell stated that site work and earth moving would be the largest element of the development activity~ constituting about .half of the development eost~ currently estimated at $610,000. He then showed a site plan which provided lots for about 26 new homes, with considerable variation possible on house designs and lot arrangements. The plan also showed how drainage from the development would be handled, both on and off site. Comments offered by Council on the plan included discussion of issues such as housing arrangement alternatives, storm drainage, disposal/reuse of soil from the site, allocation of actual costs of site development versus costs for improvements needed on or near the site independent of site requirements, prices for lots and houses, prototypes for houses, and marketing/pricing strategies in order to stimulate purchase and home ownership while keeping the housing affordable for lower income buyers. On the issue of allocation of costs, Council Member Teague estimated that when costs related to needed otT site improvements and the value of the soil used to save on the costs of the Albert Harris School project were subtracted from the estimated budget the actual development costs for the project might be as low as $360~000. This portion of the discussion prompted additional discussion of the subject of return on investment calculations based on tax revenue and other related sottrees. The general consensus was that the project could be a sound venture in terms of return on investment, if managed properly. Mr. P, eynolds stressed that the City would also be aggressive in its efforts to acquire grant funds to support the development