THE BOOKEND BUILDINGS BURLINGTON, IOWA

Transcription

1 THE BOOKEND BUILDINGS BURLINGTON, IOWA Downtown Partners, Inc. (herein referred to as DPI) in Burlington, Iowa, is seeking proposals from individuals or developers who are interested in the purchase and redevelopment of the properties known as The Bookend Buildings, located at Jefferson Street in Burlington, Iowa. Proposals shall be submitted to Downtown Partners, 610 N Fourth St., Suite 200, Burlington, Iowa I. Introduction and History On April 12, 2011, DPI purchased the Bookend Buildings to facilitate their sale and redevelopment. DPI is Burlington s Main Street organization and is a division of the Greater Burlington Partnership. The Bookend Buildings are a highly significant feature of Downtown Burlington. Located at the foot of the famous Snake Alley and along a major entryway to the downtown, the buildings are central to commercial development at Jefferson and Sixth Streets. The Bookend Buildings were built in 1883 by prominent local businessmen William Forney and Samuel Mellinger and have been used as commercial space for a wide range of businesses. The Bookend Buildings are located in the West Jefferson Historic District, which was placed on the National Register of Historic Places in 1991.

2 Over the years, the Bookend Buildings have experienced disinvestment, evidenced by empty storefronts and the lack of activity onsite. Currently all the buildings are entirely vacant on every floor. The Bookend Buildings feature unique, historically significant architecture. Because of their location in the National Register of Historic Places, qualified rehab work may be eligible for financial incentives offered at the state and federal level. Exhibit A Illustrates the plans of the buildings available for purchase and redevelopment. The Developer will be responsible for the ongoing management of the development as a condition of the purchase. Exhibit B Is a brief history and description of each building and the current structural issues that exist in those buildings today. A structural report is available from DPI. II. Scope of Services Having worked for a number of years on acquiring these buildings and fully intending to prevent their further deterioration, DPI is looking for a purchaser who can demonstrate the financial and professional capability to begin the project quickly and see it through to completion. 1. The Developer will include in its proposal an introductory statement with a narrative of its business model, its areas of expertise, an overview of past projects, a description of its legal status (corporation, LLC, etc), the location of its headquarters, and any other general information deemed relevant. 2. The Proposal will include the purchase price of property, proposed cost of development and proposed time line to complete the development. 3. The Proposal will include a narrative of the challenges and opportunities that are specific to this project. 4. The Proposal will outline the Developer s goals for this project. The outline of the goals should give an overview of the development envisioned. The Developer should describe the architectural style and any highlights of the design that deserve special attention. Compliance with the Department of Interiors Guide to Rehabilitation of Historic Buildings will be required. 5. The Proposal will identify the primary management team involved with the project, to include lease partners, if applicable.

3 6. The Proposal will include site plans showing a general layout of the development, specifically identifying the location and physical situation of: A. The land required for the development, including its property boundaries, and a definitive plan as to whether the Developer envisions purchasing and developing all the land, or subleasing a portion of the land to another developer. B. Existing buildings or new additions that may be erected, including approximate square footage for each C. Parking areas and parking area access ways. D. Any additional features, such as outdoor facilities, areas of significant landscaping, etc. E. The Proposal will outline the estimated financial investment that the Developer is prepared to make in the proposed development. A financing plan will be outlined with completion dates noted. Plans that involve the acquisition of debt should be accompanied by a letter from the proposed lending institution stating that the loan amount could be reasonably attained for the project. 7. The Proposal will include a list of professional references. If the Development is to be operated by an organization other than the Developer, then separate references should be provided for both the Developer and the facility operator. III. Addenda to the Proposal When submitting a purchase proposal, we ask you to include the following items: i. Statement of Intent: State in sufficient terms your intentions in undertaking the redevelopment. ii. Scope of Work: Describe your technical plan for accomplishing the work. Please use the Scope of Services tasks provided in this RFP as the beginning point iii. Special Qualifications: Identify any specific qualifications which might make you uniquely qualified to take on this redevelopment. These may include similar work experience related to another project of similar size or design.

4 iv. Professional and Financial References: Include a list of professional and financial references who have worked with you on similar past projects. The list should also include individuals who are familiar with your current financial and operational capabilities. V. Evaluation and Selection Process DPI will make every attempt to evaluate the proposals quickly. Proposals will be reviewed in a multi-step process. Step 1: Proposals will be reviewed by DPI staff for completion and clarity. Supplemental and clarifying information may be requested at this time. Proposals will then be referred to the Evaluation Committee. Step 2: An Evaluation Committee of several DPI representatives will review the proposals. You may be asked to make formal or informal presentations at that time. Note: Preference will be given to proposals which: - Incorporate mixed uses into the design. A residential development is envisioned for the upper floors, as well as commercial uses for the first floors, with a strong preference for retail and/or restaurant uses. - Prioritize historic preservation. These initiatives are an overall priority for DPI and the West Jefferson Historic District. Saving and revitalizing historic buildings and landscapes that give a neighborhood their distinctive character is an ongoing goal. Proposals should adhere to the Department of Interiors Standards for Rehabilitation of Historic Buildings. - Incorporate green building techniques by implementing energy efficient materials that will provide savings on future operating costs. - Indicate an ability to begin the project in a timely fashion (within 60 days of grant award for the middle building see Price and Financial Incentives below), with financing and management teams secured Step 3: The DPI Board of Directors will approve the final sale contract.

5 VII. Contract Award DPI reserves the right to accept, reject, or request changes in proposals. DPI will work closely with the selected Developer to develop or refine a detailed scope of work, schedule for completion of tasks and costs associated with completed work included in the contract documents. DPI is not liable for any costs incurred by the Developer. VIII. Contract The Developer will be required to sign a contract with DPI relating to the purchase and development plans agreed upon. IX. Response Material Ownership The material submitted in response to the RFP becomes the property of DPI and will only be returned to the Developer at DPI s option. DPI has the right to use any or all ideas presented in reply to this request. Disqualification of a Developer does not eliminate this right. X. Acceptance of Proposal Content The contents of the proposal of the successful Developer may become contractual obligations if DPI wishes to execute a contract based on the submitted proposal. XI. Reference Checks DPI reserves the right to contact any reference or any client listed in the documents for information which may be helpful to DPI in evaluating the Developer s performance on previous projects. X. Price and Financial Incentives DPI has set an asking price of $170,000 for the entire set of properties. Currently the half block is divided into two tax parcels (see Exhibit A). DPI can subdivide the properties so that each of the three buildings (512; 514/518/520; and 522) will be on their own tax parcel. DPI has priced the individual buildings at $65,000 each for 512 and 522 Jefferson (the three story towers) and $55,000 for the center two story building (514/518/520 Jefferson). Each building has financial incentives available to the purchaser for qualified rehabilitation:

6 - 512 and 522 Jefferson The three story end buildings are contributing structures in the West Jefferson National Register Historic District and are thus eligible for 25% state historic rehab tax credits as well as 20% Federal historic rehab tax credits. For a basic overview of how these credits can be applied, contact Downtown Partners at ; for more specific information, contact Beth Foster-Hill at the State Historical Society of Iowa, In addition, the City of Burlington has been awarded a Community Development Block Grant for the rehabilitation of the streetfront facades of these buildings. The grant covers 70%, and the owner is responsible for 30% towards the restoration, repair, and replacement of windows, storefront elements, masonry, and cornices. The estimate to repair the Jefferson Street façade of 512 is roughly $50,000; the estimate to repair both the Jefferson Street façade and the Sixth Street façade of 522 is roughly $55,000. The Developer may also pursue tax abatement for the properties; call the City of Burlington Development Department, /518/520 Jefferson Because of its appearance at the time of the initial survey, the center two story building is not currently listed as a contributing structure in the West Jefferson National Register Historic District. However, discussions with the State Historic Preservation Office indicate that a reassessment can be done now that secondary siding has been removed, and that the building would then be listed as contributing. This would make it eligible for the state and Federal historic rehab tax credits discussed above. DPI can provide contact information about updating the historic survey. The middle building is included in the same Community Development Block Grant award mentioned above. The estimate to restore the façade is roughly $35,000. Tax abatement is also available as discussed above. In addition, DPI has been awarded a $175,000 I Jobs grant exclusively for the middle building. The grant would go for a new roof for the building and white boxing the first floor interiors of the building to prepare them for commercial tenancy. There is no required owner match; this is an outright grant. However, work must begin within 60 days of DPI signing the grant contract.

7 Exhibit A Site Plan N Sixth St Parcel Parcel Jefferson St.

8 EXHIBIT B: PROPERTY DESCRIPTIONS 512 Jefferson Built in 1883, this ornate three story Italianate building is the east end of the Bookend buildings. Its historic name is the Forney & Mellinger Block East. The building was originally used as a specialty store. It is an outstanding example of Victorian commercial architecture, with carved stone, colored tile, pressed metal and brick cornice, and arched windows on the alley, though it is missing the top portion of the cornice. At least a portion of the original cast iron storefront remains behind enameled steel panels. Today the building is in good to fair condition. The foundations and brick exterior look good for its age but needs some tuck pointing. There is some deterioration in the east wall. A number of upper story windows are missing glass. There was a fair amount of water penetrating this wall and seeping into the basement. The east ends of the floor joists have been doubled. The roof access previously leaked badly, and part of the third floor subfloor has rotted near the top of the stairs. Replacing part of the alley with concrete to include a curb at the building could redirect storm water and help dry the basement. There are rear stairs to the east from 512 Jefferson. The freight lift equipment is still in the NW corner of the basement. This is the easternmost building of Parcel in Des Moines County, Iowa. 514 Jefferson Built in 1883, this is the east half of the middle two story section of the Bookend Buildings. This building was originally the Singer Manufacturing Company. Singer manufactured and retailed their machines at this location. It is a two story brick Italianate building with arched windows all along the front and an enclosed storefront. It was most recently used as a CPA s office. Sheet metal cladding covering the second story was recently removed. Limited brick repair has been done to the second story façade. The second floor is accessed from the second floor of 512 Jefferson and through the second floor of Jefferson. Second floor access from 522 Jefferson could be sealed off if the buildings are sold separately. The upstairs is not a full second story; its square footage is roughly half that of the first floor. In good condition today, this building also has a newer storage structure at the north end with concrete block walls and wood roof joists. It is not a significant appurtenance and could be kept or removed for additional rear parking space. This is the westernmost building of Parcel in Des Moines County, Iowa.

9 518 & 520 Jefferson This is very similar in appearance to 514 Jefferson. It was originally the Burlington Knitting Factory; it is also the earliest location of the Buettner Furniture Co. It is a two story brick Italianate building with arched windows all along the front on the second floor. The upstairs is not a full second story; its square footage is roughly half that of the first floor. The storefronts were remodeled in the early 1900s and still retain the prism glass transom windows. The first floor spaces have pressed metal ceilings. The second floor is divided into office spaces. It is accessed from the second floor of 522 Jefferson and through the second floor of 514 Jefferson, as well as an interior staircase from the first floor of 520 Jefferson. Second floor access from 520 Jefferson could be sealed off if the buildings are sold separately. It is in good to fair condition today. The roof has leaked, and some roof joists have been replaced. Most of the roof joists look okay. Sheet metal cladding covering the second story was recently removed. Limited brick repair has been done to the second story façade. There is a walk-in safe at the rear of 520. This is the easternmost building of Parcel in Des Moines County, Iowa. 522 Jefferson This 1883 building is the west twin of 512 Jefferson. Its historic name is the Forney & Mellinger Block West; its uses have included a grocery, a furniture store, and offices. This three story building matches the east building with colored tile, cast iron storefront columns, carved stone, full pressed metal and brick cornice, arched windows and entry. It borders Sixth Street and has decorative wrought iron balconies overlooking the street. Some upper story west windows have stained glass sash. This building is less than a block directly south of Snake Alley. Being located on the corner, both the south and west sides of the building are highly ornamented. The side entry address is 304 N. Sixth. This building is in fair condition. Some upper story windows are broken or missing. The first floor has a pressed metal ceiling. There are some decaying second floor joists above the mezzanine in the NW corner. The floor framing around the rear stairway has noticeable settling and will need to be replaced. The roof has previously leaked, and ceiling plaster has fallen. There is one area where the third floor subfloor has rotted. The upstairs interior plaster has significant cracks in the SW corner, but no exterior cracks can be seen from the street level. The basement and first floor show signs of seepage around the perimeter. Rising damp has caused some deterioration of the stone foundation s mortar. This is the westernmost building of Parcel in Des Moines County, Iowa. Site Note Parking Availability There is available space on the property for off street parking immediately behind the buildings. In addition, there is a City owned public parking lot adjacent to the north of the properties. On street parking is available directly in front of the buildings on Jefferson St.