Rock Island Today

City of Silvis Economic Development Group met September 11.

Here is the minutes as provided by the board:

Chairwoman Hall called the meeting to order at 1pm and noted a quorum was present. There is one agenda item for consideration.

The Weber Auto Group has purchased (or in process) four properties west of the current location; the house, former The Car Lot', 301 First Avenue and the building at 205 First Avenue. The developers propose to demolish three structures and expand their operation to include a truck sales office, detail shop and possibly a car wash. City agrees to reimburse the developers for the land and demolition costs. Developers are committed to develop the vacated sites within 5 years. Reimbursement would take place over the next 15 years and demolition would be reimbursed 45 days after completion. Jim said there are funds in this budget $25k in demolition and $25k in downtown improvements. The details of the terms will be spelled out in the development agreement.

In a separate agreement the developers plan to purchase two parcels in the 1500 block of First Avenue, demolish the properties and construct a spec building or to sell off to a prospective buyer. The terms of this agreement would be reimbursement for demolition (NTES25K) and phase one testing (NTES2,000). Funds would not be issued until an occupancy permit was issued. The term of the agreement is five years.

Committee was in agreement with the proposed agreements and the meeting would be placed on the September 19th COW agenda.

There were no other agenda items and the meeting was adjourned at 1:30pm.

http://www.silvisil.org/committee-meeting-minutes.html?fd=e%2501%25B2%258C%25D6n%2585%25AAt%259EA%25AB%258A%25DF%252C%25D0%25B5Te%25ACd%2500%259E%2503%2582%25FD%2588%251C%25F4%25B3%2580_%2521%251C%25BD%2582%25C3%25B7s%25A1%25B5%251A%25BCP%2582%25F2M%25AC%2595u%25F9