To All COLA LO Members,
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.
Council Postpones Position, Readers 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.