Slide Show
To explain their ReUse
Report, ReUse Experts John Lauber and Bob Claybaugh spoke from the slide
presentation below at the
The Team
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Local Sponsors
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Preservation Planner
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Historical Architect
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Structural Engineer
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Mechanical Engineer
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Cost Estimator
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Financial Analyst
The Process
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Assess rehab potential
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Talk to stakeholders
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Identify obstacles and opportunities
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Evaluate alternatives
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Prepare schematic designs
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Assign costs
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Work the numbers
Disposition Alternatives
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Continued School Use
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Demolition
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Do Nothing
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Interim Use
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Phased Rehabilitation
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Full Rehabilitation
Parameters
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Find a productive reuse of the building
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Serve a community purpose
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Reduce burden on School District
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Find a compatible use
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Anticipate future of site
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Maximize use of incentives
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Minimize cost to taxpayers
Use Alternatives
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Community Center
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Technology Center
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Affordable Housing
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Upscale Condominiums
Scenarios
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Interim Use—Core of a Community Center
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Community Center/Affordable Housing
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Community Center/Upscale Condominiums
Interim Use Floor Plan:
Community Center Floor Plan:
![ANA-Basement New-081213[1].jpg](../images/clip_image004.jpg){kind=small}
Dwelling Units-Level 1 - Floor Plan:
Dwelling Units-Level 2 - Floor Plan:
Site Plan:
Costs
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Interim Use:
$12,000-$30,000
(Prep only—does not include operating costs)
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Partial-Community Ctr:
$4,573,000-$6,338,000
(Reduces amount of incentives available)
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Full-Community Ctr/Affordable:
$6,000,000
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Full-Community Ctr/Condos:
$7,960,000
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Site Work:
$665,000-$861,000
(Included in overall costs, includes garages)
Financial and Ownership
Key Themes for Funding:
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Partnerships
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Taxability
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Phasing
Project Finance Tools
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Federal and State Tax Credits
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TIF/Tax Abatement
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Grants
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Private Lending
Comparisons
|
Community/Affordable COST:
$7,000,001 LI Tax Credit
$ 2,565,000 Fed Tax Credit
$1,260,000 State Tax Credit
$1,260,000 TIF Finance
$
269,825 Private Donation
$
500,000 Private Lending
$
600,000 GAP:
$
544,893 Both assume dollar sale |
Community/Condos COST:
$7,000,001 Fed Tax Credit
$1,260,000 State Tax Credit
$1,260,000 TIF Finance
$
269,825 Sale of Units
$1,317,450 Private Donation
$
500,000 Private Lending
$1,030,000 GAP:
$1,362,726 |
Examples
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Orono Discovery Center
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Central Square-Glenwood
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Chatfield Center for the Arts
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Glencoe Civic Center
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Detroit Lakes Community Center
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Central Park Bluff View Suites– Red Wing
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Establish an organization
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Buy time
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Implement measures for interim use
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Develop programs
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Articulate a case statement
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Seek partners
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Raise funds