Richmond Heights officials on Monday approved blighting, and a plan for tax relief for the developer for Boland Place, a multi-use building on the corner of Dale and Boland — making way for demolition to continue for the project. The bill passed the council 6-2. Council members Ed Notter and Joan Provaznik cast the no votes. Telling the council why he needed the tax plan, developer Joseph Cyr said the gap between what he had valued the property at and the county’s assessment was $2.5 million, affecting the value of the property, what a bank will loan, and the rent he would need to charge; and ultimately the project’s success. He said he is committed to paying his fair share of taxes.
In a hearing at the Richmond Heights City Council meeting on Monday, the council heard details of a proposed tax relief plan for the developer of Boland Place, a mixed-use development at Dale Avenue and Boland Place. Richmond Heights City Manager and the developer, Joseph Cyr, called the tax relief a PILOT (payment in lieu of taxes). Under the proposed plan, which the city council has yet to vote on, the annual property taxes on the completed project would be capped at $297,000 for ten years. It’s estimated that the plan would save Cyr $100,000 over the 10 years, paying about 72 percent of what the tax would be otherwise. If, in an an assessment, the taxes go under the $279,000 cap, the lower tax would be owed.
Richmond Heights officials Monday night approved Pace Construction Company to resurface seven city streets this summer. More streets will be sealed, to extend their life. Bellevue, Ethel, Hoover, Mabel, Dale and El Moro avenues, and Commodore Drive will all be resurfaced this spring, according to the city on Twitter. In addition to resurfacing those streets, Pace will also apply an thin sealant to the asphalt on other streets that are in good condition, which a Pace representative at the meeting said would extend their life for an additional four to seven years. After the sealant is applied a substance he described as “kitty litter” will be applied for about a day, then swept off.
The agenda for the April 3 Richmond Heights City Council meeting was released on Thursday. No new business is on the agenda; the only old business is the second vote on a bill to enable city to join Missouri Clean Energy District and Show Me PACE. City Manager Amy Hamilton’s report is on the agenda, like usual. At the March 6 meeting the officials gave the OK for city staff to take steps to analyze if the city will consider proceeding with tax abatement for Boland Place apartments, at Dale Avenue and Boland Place. In the mean time, demolition of the church on the site is almost complete.
All that remains undemolished of the church, where an apartment complex has been proposed at Boland Place and Dale Avenue, is the steeple and the metal front doors. A contractor there said he didn’t know if the steeple would be saved. At the Richmond Heights City Council meeting on March 6, the council approved steps to analyze if the city will consider proceeding with tax abatement for Boland Place apartments. The former AB Green School is undergoing asbestos remediation in preparation for its demolition.
Richmond Heights officials Monday night approved steps to analyze if the city will consider proceeding with tax abatement for Boland Place apartments, at Dale Avenue and Boland Place. About 10 were in the audience, including members of the Mid-County Chamber of Commerce, the Maplewood Richmond Heights School Board and city staff. None spoke in the meeting. At the last meeting, the developer, Joseph Cyr, asked the city (in a closed session) to consider a payment in lieu of taxes, City Manager Amy Hamilton said in her report in the meeting. To analyze the request — for the city council to determine what action is appropriate — the city must hire consultants to do due diligence.
It appears, from the agenda for the upcoming council meeting, that Richmond Heights city officials may be willing to work with developer Joseph Cyr who has asked for tax abatement for his planned apartment complex at Dale Avenue and Boland Place. At the February 22 Richmond Heights council meeting, city officials gave Cyr a six-month extension to break ground on his planned apartment complex. Later in the meeting, in closed session, Cyr told the council he needed tax abatement to make it possible. One of the items in the city manager’s report for the March 6 meeting is: “Preliminary Funding Agreement – between P & M Holdings, LLC – for Residences at Boland Place.” See the full 3-6-17 council agenda.
Joseph Cyr, the developer wanting to build The Boland Place apartment project, at Dale and Boland in Richmond Heights, told the city council in a closed session last week that he needs tax abatement to make it possible. A source shared a document with 40 South — RequestTaxAbatement28022017 — in which Cyr makes his request to the Richmond Heights City Council. Cyr says the project equity is in place, and he’s in the process of scoring a loan. The lender estimated the real estate taxes 60 percent higher than Cyr planned for. He says the lender has taken the most conservative approach and set tax projections at a very high level.
Richmond Heights officials Tuesday night approved an extension for Joseph Cyr’s development plan for his Boland Place apartments at Boland and Dale. The council approved Cyr’s development on March 3, 2016. By ordinance he had a year to start work. In a letter to the city council he asked for a extension, to May 9, to for time to obtain an abatement permit and mobilize on the site. He also said in the letter: “moving forward is subject to lender clearance…”
According to a source, Richmond Heights officials Monday night canceled a closed session with Joseph Cyr, the developer the city gave the OK to for Boland Place apartments at Dale and Boland avenues. Cyr and/or his business partner will report on the status of the project and financing at the Feb. 21 city council meeting in open session, the source says. Richmond Heights City Manager Amy Hamilton hasn’t responded immediately to a request for comment. According to the source, at the Feb.
Richmond Heights City Council at its meeting on Monday approved a liquor license for Maggiano’s Little Italy in The Boulevard. Also, the council upheld planning and zoning’s approval of P&Z Petition #2017-01, a conditional use permit for Nuwati Herbals at 7610 Dale Avenue. The store offers natural herbal teas, balms, bath products, pet lines and outdoor products, according to its Facebook page. The city reported live from the meeting with Twitter. See the full Feb.
The sale of 4.5 acres at Hanley and Dale and Interstate 64, from the city of Richmond Heights to Summit Development for a hotel and mixed use development, was finalized at the city council meeting on Tuesday. Officials approved the sixth amendment to the sale agreement with Summit. Closing will take place on or before Feb 14, 2017, according to city manager, Amy Hamilton. The lot was under contract with Summit Development Group for $5.5 million, Hamilton said previously. Hotel, retail, restaurants coming to Richmond Heights
Hotel planned for Richmond Heights; Menards outbuilding update
4.5 acre site under contract with Summit Group
A hotel, restaurants and retail space are planned for the property.