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Goetz Tower Project Status?

Printed From: MiddletownUSA.com
Category: Middletown City Government
Forum Name: Community Revitalization
Forum Description: Middletown Community Revitalization News
URL: http://www.middletownusa.com/forum/forum_posts.asp?TID=6502
Printed Date: Jul 21 2017 at 2:41pm


Topic: Goetz Tower Project Status?
Posted By: Analytical
Subject: Goetz Tower Project Status?
Date 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.



Replies:
Posted By: spiderjohn
Date 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)


Posted By: swohio75
Date 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.



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