Property donated to Clintonville Redevelopment Authority
By Bert Lehman
The city of Clintonville is seeking redevelopment proposals to rehabilitate the former BMO Harris bank building located at 60 10th St.
The goal is to restore the building into a viable commercial business.
Deadline to submit a proposal is 4 p.m. Monday, May 15.
The owner recently donated the property to the Clintonville Redevelopment Authority (RDA). The RDA did not have to pay for the property.
City Administrator Caz Muske told the Clintonville Tribune-Gazette in an email that the owner of the property initiated the communication with the city about donating the property.
“The owner – in the first quarter of 2022 – reached out to the city for assistance to find a potential buyer or lessee,” Muske said. “Anyone interested in buying or leasing was then directed to him.”
She added that the RDA approved accepting the property donation at its March 8 meeting, contingent on a positive building inspection. Since the donation was being given to the RDA, approval of the donation did not have to go before the Clintonville Common Council.
The city hopes that a qualified individual or business will purchase and restore the property into a viable commercial business.
Muske said she has not been contacted directly by anyone regarding the property since the request for proposal (RFP) was issued.
There was some interest prior to the RFP.
“Because the owner requested guidance from the city for local connections of potential interested parties, there were a few interested parties sent his way,” Muske said. “However, no viable agreements were met between the owner and interested parties, which is why he ultimately decided to donate the property.”
Timetable
According to the RFP, any prospective buyer of the property must begin rehabilitation of the property “in a reasonable amount of time following closing.”
The final inspection will be prior to May 12, 2024 or as late as recommended by the city’s building inspector. A detailed project timeline would also need to be provided.
The RDA will review the sale of the property prior to June 1.
Selection process
Also, according to the RFP, the evaluation and selection of a buyer for the property will be based on the purchase price offer and the submission of all required documents.
Documentation required includes:
• Narrative plan of all work proposed to be completed.
• Budget estimates from qualified (licensed if required) contractors.
• Proof of financial ability to complete the project.
• Proposed timeline.
• Listing of all parties with ownership.
Future options
If the RDA does not receive a viable proposal for the property, Muske said, “The RDA would have to make that policy decision based on an analysis presented to them. The last real estate project RDA took on resulted in proceeds from an auction.”
She added, “RDA is excited to have this opportunity to leverage real estate property as an economic development tool to encourage redevelopment in our community. Like tax increment districts and grants, this is another avenue that can be utilized to break down barriers to ignite economic development that generally would not happen without assistance.”