What happened:
Chaos's representing attorney, Frank Wood, stated that the owners, contractors, and architects are ready to start building their shell mall as soon as their loan officially closes. After acquiring the necessary permits and complying with the City, they will begin to move forward to start their initial process.
Since the City has seen no performance on the property other than demolition and leaving rubble behind, the Council passed a motion to request demolition bids. Additionally, the Council continued to assess administrative penalties of $1,000 a day on the owners.
Why it matters:
Mayor McNulty expressed that the Chaos building was a public nuisance, affecting the neighbors, residents, and all who pass through.
The Contractor on the project, Miguel Torres, told the Council that they have not been on the property because the owner has a commitment letter with his bank. During the process of the loan, they cannot work on the property. "We've been working with the bank all month, and submitted all the information, all the financials. The bank asked us that, due to the title not accepting working on the property while they process closing the loan, they asked us not to have people in there working on it," said Torres.
"As far as getting started, we're ready, all we need is that loan closing, and then we got the permit issued and paid for already, and we can get going," said Wood. He explained that he understands the frustrations of the City and residents. Still, he assured that since the beginning of the year, there had been advances. "I know it's been frustrating for the board and the community and everybody on how long this process has taken, but there have been advances over the months. We're ready. You're going to have higher tax revenue from the income, not only improvements but the sales tax," said Wood.
Wood explained that if the City demolished the building, it would lose a lot of sales revenue and that the most significant delay in the process was getting the permit. "The biggest delay has been getting the permit. We submitted plans on September 2, and it took till December 14, 2020. The sprinkler system issue, I don't have detail on that, but it had to go through the national fire association for some sort of approval, and it sat there for I don't know how long, but we're here now," said Wood.
What now:
The Substandard Structure Review Board will have their next meeting on February 3, 2021, to update building progress and the loan.
[Click here to view the SSRB meeting]
