Agenda - Council Work Session - 03/11/2025

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COR. The report concluded that leavina it in its current location would allow it to remain on the National Register and not risk damaaina the buildina by movina it. The report then looked at what would be needed to renovate the buildina so it could be restored appropriately and be able to be occupied and used. Any renovation would need to comply with the Secretary of the Interior's Standards for Rehabilitation as outlined in the RCP report. In order to maintain its place on the National Reaister. special care must be taken to restore the buildina as close to the oriainal conditions as possible. The report outlines the 2 major steps necessary to pet to this point: 11 Climatization and 2) Pre -Occupancy Uparade. In 2018. the cost to bring this buildina into operation was estimated to be $44.940. in 2019. the City re -roofed the buildina and repaired the eaves. In 2021 a private business asked the city to renovate the buildina and to lease it back for a boutique. Quotes for the renovation at this time were $111.900 to $139.270 based on increased costs of construction and inflation staff is estimatina a 50% mark-up from the 2021 pricing which would amount to a cost of $167.850 to $208.905. Cost for the renovation ended up coming in much less). Parking / History (Older Information), When the First Bank of lsanti bouaht the land next to Town Hall and constructed its facility. a Declaration of Reciprocal Easements document was filed. (See attached) This document references a shared parkina easement aareement between the Old Town Hall and the Bank that is permanent and perpetual. Other requirements of the aareement include onaoina maintenance by the bank with the City beina responsible for 29% of the maintenance costs within 30 days receipt of an invoice by the Bank and hours that the Old Town Hall can use a portion of the bank parkins lot excludina specific hours during bank operation. Staff is not aware of any invoices that have been issued to the City but will need to verify with finance. There was supposed to be an Exhibit as part of the recorded document by KKE defining these areas better but unfortunately it is not part of the document of record at Anoka County. Staff has searched for records internally for the KKE Exhibit but have been unable to find it. Staff reached out to Flaaship bank to see if they have any interest in formalizina a new parkina aareement that would make use of the Old Town Hall more viable. Unfortunately. Flaaship Bank is in the middle of a meraer and won't have time to discuss options in any detail until the meraer is complete which is estimated to be sometime in May. Future Use Options (Older Information) The 17b RCP report discussed potential future use of the Old Town Hall. Uses contemplated ranged from a public space. museum. school. arts. and business incubator. Staff received multiple requests about the availability of the buildina for lease for various types of businesses in the past. Schools and retail uses have approached the City but due to the condition and renovation needed to the buildina the users ao elsewhere. These users were excited at the possibility of using this unique buildina and think its allure will benefit their businesses. Parkina is also difficult to solve for and any aareement with a future tenant would likely need some sort of cross parkina easement with the adjacent properties. The Old Town Hall has an estimated 778 SF of lease space. It includes a bathroom. main hall and cloak room. Staff consulted with a local real estate aaent in 2021 and market rate rent for this buildina would be in the $12-18 / SF range with the tenant responsible for the utilities / snowDlowina and the City responsible for the property taxes. Staff estimates that a current lease rate would fall into the $14-20 / SF ranae. Private Party Lease. (Older Information) The EDA reviewed this use in 2021 and recommended that staff renovate the buildina when pricina came down. Unfortunately. pricina has not come down since Covid. Public / Parks ,(Older Information)