Goetz Tower Project Status?

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City Council Retreat (Excerpts) - June 23, 2016

Mr. Adkins provided an update on the Goetz Tower Project. He stated that the plan calls for 18-20
market rate studio and one bedroom apartments and ground floor commercial space. He explained
that right now there’s a funding gap of $784,203 in the project. Without financial support from the
City the project won’t start; he discussed options of cash/ occupancy guarantees and waiving of fees
to get the project completed.

Since the retreat, the city did agree to lease ground floor space of the Goetz Tower building to house the Economic Development Department.  Does anyone know the exact monthly amount that the city will be paying for five or six years?  Aside from that city subsidy, what progress is being made to locate additional subsidies for Mr. Coon's project?

Several people have recently noted that there's minimal activity taking place.  Reportedly, about three dumpster loads of materials were removed from the premises.

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Analytical Members Profile Send Private Message Find Members Posts Add to Buddy List MUSA Citizen Joined: Nov 19 2015 Location: United States Status: Offline Points: 562	Post Options Post Reply Quote Analytical Report Post Thanks(0) Quote Reply Topic: Goetz Tower Project Status? Posted: Jul 12 2017 at 8:28am
	City Council Retreat (Excerpts) - June 23, 2016 Mr. Adkins provided an update on the Goetz Tower Project. He stated that the plan calls for 18-20 market rate studio and one bedroom apartments and ground floor commercial space. He explained that right now there’s a funding gap of $784,203 in the project. Without financial support from the City the project won’t start; he discussed options of cash/ occupancy guarantees and waiving of fees to get the project completed. Since the retreat, the city did agree to lease ground floor space of the Goetz Tower building to house the Economic Development Department. Does anyone know the exact monthly amount that the city will be paying for five or six years? Aside from that city subsidy, what progress is being made to locate additional subsidies for Mr. Coon's project? Several people have recently noted that there's minimal activity taking place. Reportedly, about three dumpster loads of materials were removed from the premises.

spiderjohn Members Profile Send Private Message Find Members Posts Add to Buddy List Prominent MUSA Citizen Joined: Jul 01 2007 Location: United States Status: Offline Points: 2749	Post Options Post Reply Quote spiderjohn Report Post Thanks(1) Quote Reply Posted: Jul 12 2017 at 9:55am
	Are we already paying rent? Timeline for occupancy? And for whom? Studio/Strand update? Let the private sector ownership handle these issues--they have their own $$, they just don't want to use it imo. Keep the taxpayers out of these private ventures, since admin's/ Council's track records aren't very good( though VERY expensive)

swohio75 Members Profile Send Private Message Find Members Posts Add to Buddy List MUSA Citizen Joined: Jun 13 2008 Status: Offline Points: 820	Post Options Post Reply Quote swohio75 Report Post Thanks(0) Quote Reply Posted: Jul 13 2017 at 8:48am
	Spider- I believe Doug posted here (I don't have time to find the post) that the city would not start paying rent until occupancy. The original timeline called for the project to be complete by Dec 2017.