Thursday, September 26, 2013

WEB Sale Proposal Heats Up the City Council

To All COLA LO Members,

This past week the city council held a hearing on the sale of the West End Building (WEB).    There was ample testimony by citizens all evening with most asking the council to reconsider the sale.  

Why?  It seems there is concern in the community of what type of development the sale would bring to the WEB location.   The proposed sale at $16.5 million is contingent on the city rezoning the site to "General Commercial".  

Many believe the re-zoning will attract a high density commercial development complex to the site.   

Its all speculation now as the council decided to postpone a vote for two weeks until it has time to consider the testimony and alternatives.    Many citizens asked the council to develop a long term plan for the WEB. 

Unfortunately over the past 7 years such a plan has been elusive because all the options require a massive investment which at a minimum would be DOUBLE the original purchase price of $20 million.  

Details can be found at:  Council Postpones PositionReaders React to Proposed Sale and The WEB may go.

It will  be interesting to see if the council makes a final decision at their October 8th meeting.  

Please notify all members, contacts, and friends.   

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