City Council

MINUTES OF THE CITY OF BRISTOLO TENNESSEE CALLED CITY COUNCIL MEETING October 312019 CALL TO ORDER: The City of Bristol Tennessee Called City Council meeting was called to order by Mayor Margaret Feierabend on Thursday, October 3,2019, at 5:30 p.m. in the Ewell L. Easley Conference Room of the Municipal Annex Building. ROLL CALL: Present: Mayor Margaret Feierabend, Vice-Mayor Mahlon Luttrell, Councilman Chad Keen, Councilwoman Lea Powers, and Councilman Vince Turner. Others Present: City Manager William L. Sorah; City Attorney Danielle Smith, City Recorder Tara Musick; and members of City staff. ORDINANCES AND RESOLUTIONS: A. First Reading of New Ordinances: None. B. Adoption of Ordinances (Second Reading): None C. Resolutions: Resolution 19-102 Authorizing Entry into a Development Agreement with 714 Shetby St., G.P. Director of Economic Development Tom Anderson provided City Council with background information and a history of this block of the downtown area. He detailed the City's efforts to acquire the Coyne Textiles and Bristol Products facilities. The Coyne Textiles facility was acquired in 2017 and the City then entered into the voluntary brownfield agreement with TDEC. In 2018, the City purchased the Bristol Products facility and then leased it back to the owner. Requcst for proposals for rcdcvclopmcnt wcre sought. ln20l9, proposals were evaluated and A.G. Commercial, GP was engaged. JJ Gillenwater discussed working with BurWil Construction to develop the 700 block of Shelby Street and showed a diagram of the project with 63 loft apartments, a courtyard, and a few business tenants. The agreement is with 714 Shelby St. G.P. Councilman Vince Turner questioned how much space would be commercial and the developer clarified.  Called City Council Meeting October 3,2019 Page 2 of 4 The first floor of the project will be all commercial with about 30,000 square feet of floor. The project will also have 170 parking spaces with 85 spaces being private to the development. Mayor Feierabend questioned what the exterior of the building would look like. Mr. Gillenwater responded that it would be basically masonry. He said that the developers are excited about the project and being downtown. Blair Jones stated that the project had been researched in depth with the creation of a focus group. The project will have a deli or coffee shop type vibe with the incorporation of a fitness center. Vice-Mayor Luttrell questioned what would be the build out time. Demolition of the current facilities is expected to be completed by March 2020. City Attorney Danielle Smith presented the detailed terms of the agreement which covers both the Coyne and Bristol Products sites. The agreement will be between three parties which are the City, the developer, and the Industrial Development Board of the City of Bristol, Tennessee. The City will provide for demolition of the existing structures and deliver a buildable pad in accordance with the Brownfield Agreement assigned to the property. Following completion of the demolition of the existing structures, the City will prepare a plat which subdivides the property into two parcels. The developer's parcel will be located on the northern portion of the property and the City will retain the southern parcel for the development of public parking spaces. Following completion of the property subdivision, the City will transfer the developer's parcel to the City's Industrial Development Board. The parties have agreed that the purchase price for the developer's parcel shall be $225,000. At closing, the developers will provide a promissory note to the Industrial Development Board for the purchase price of the developer's parcel. The promissory note shall provide that if the minimum standards set forth in the agreement are met at the times specified in the agreement, then the promissory note shall be forgiven at a rate of one-fifth of the purchase price on each anniversary date of the promissory note. The developer will be responsible for constructing a minimum of 60,000 square feet of mixed-use development. The developer must construct a minimum of 20,000 square feet of retail, office, andlor restaurant space which will comprise the entire first floor of the development. The developer plans to devote the second and third floors of the project to residential spaces. The City will construct a public parking lot on the southern parcel. The parking lot is proposed to contain 170 parking spaces. The City will lease 85 of the spaces to the developer for use by tenants of the development and retain 85 spaces for public parking. The leased parking spaces will be for an initial term of ten years with an option for the developer to exercise an additional ten year term. The lease rate will be based upon the actual costs of property acquisition and construction with an estimated annual rental payment of $16,008. The developer agrees to forego other local property tax incentives.  Called City Council Meeting October 3,2019 Page 3 of4 Councilman Keen made a motion to approve the resolution, and Councilman Turner seconded the motion. Councilman Turner then disclosed that one of the developers was the treasurer of his campaign for City Council, but he had been advised that this was not a conflict. The motion passed by a unanimous roll call vote. CITY MANAGER'S REPORT: City Manager Sorah presented results of the bond refunding sale with a true interest cost (TIC) of I.38%. The net present value of savings is projected to be $187,260.99. He also showed a letter from Ginger Christian requesting a STEM Council and for a member of City Council to serve. Councilwoman Powers stated that she would have an interest in serving. CITY COUNCIL COMMENTS: Councilman Keen would like the Volunteer Parkway corridor to have a redevelopment area between the Pals and Lowes. He said that he knows that the City will be reviewed city-wide later but that he would like this area to be fast-tracked. Mayor Feierabend discussed an upcoming meeting that she will attend with Bristol Housing Authority. Councilwoman Powers then asked how long it would take staff to put together a redevelopment plan. Mr. Sorah discussed previous practices which included working with Bristol Housing Authority to develop a panel. Mayor Feierabend said that the 2005 study was a major initiative and that she thought we could aim for a March timeline. Mr. Sorah said that would depend on how aggressive that staff and the panel wants to be. Councilman Keen state that he wants a city-wide study done but he wants a plan for that particular area done sooner. Mayor Feierabend responded that she prefers the city-wide approach and that criteria must be met. Councilman Tumer said that March is aggressive and that he thinks that July is more realistic. Director of Economic Development Tom Anderson stated that it could be studied. It just depends on how deep that Council wants to go. Mr. Anderson said that each parcel must be reviewed and that property owners must be contacted. The Mayor suggested that more homework be done and the meeting be held with Bristol Housing Authority before the issue is reviewed later in Ogtober. Councilwoman Powers asked where the City stood in developing a new Farmers Market venue. Director of Parks and Recreation Terry Napier discussed possible locations and the venues utilized by other entities.  Called City Council Meeting October 3,2019 Page 4 of 4 Councilman Keen requested an update on a new baseball facility. Vice-Mayor Luttrell said that minor league baseball was undergoing changes and recommended that further exploration of a new facility be put on hold. Mayor Feierabend requested that the downtown country music mural and lighting be placed back on the agenda. City Manager Sorah clarified the price quote received and that it was for painting the mural only. It is a proprietary painting so we must use the artist to do the work. The stage replacement was also discussed. Mr. Napier said that a stage replacement would cost approximately $80,000. The Mayor said that she would inform the remainder of City Council after her upcoming meeting with Steve Scyphers and staff of Bristol Housing Authority. She said that they have needs too and want to discuss strategic planning, the need for housing, the City's role in housing, and the status of Shelby Towers. There being no further business, the meeting was adjourned at 6:33 p.m Feierabend, Mayor ,%.* í ,h/r2Á TaraE. Musick, City Recorder