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February 28, 2006Commission OKs deckProposal covers eight-story, 100-foot building
Uzelac
Ferris
Monday, commissioners voted 6-1 to approve a development agreement and a bond issue of up to $16 million to pay for a public parking deck at 145 W. Front St. Commissioner Deni Scrudato cast the lone votes against the project. "I think this is a great project for Traverse City," said commissioner Jody Bergman. The 480- to 530-space public parking deck is part of an eight-story, 100-foot-tall project by Federated Properties to include retail and residential space. Commissioners said the project would boost the city's west side business and reduce the use of surface parking lots. "I can't see why you could ever turn this down," said commissioner Ralph Soffredine. Monday, commissioners were also introduced to Louis P. Ferris, Federated Properties' managing member, who assured the city it would build the development. Michael Uzelac is the development company's contact with the city. Ferris said the company "has the financial wherewithal and expertise" to finish the project, but acknowledged it hasn't "constructed anything of this magnitude." "I give you my word, my reputation is the most important thing (to me)," Ferris said. Budget projections show the city cannot afford a $16 million bond issue, and city officials have a cheaper, smaller parking deck plan should the revenue not come through to pay for the full plan. Scrudato mentioned financing questions as just one of the reasons why she opposed the deck. "I realize I may be the lone no vote this evening, but there are a lot of Traverse City residents who feel this way, and I am proud to represent them," she said. Support for the deck outnumbered opposition during the public comment portion of the meeting. Five residents voiced concerns about the project. "The whole fast-track of this development has been developer-driven," said Ann Rogers, a former city commissioner. Others questioned the developer's financial backing and said the project was too large. But nearly 20 people - many of whom owned property or businesses downtown or were associated with downtown groups - pointed to project benefits such as more downtown housing. "(There is) definitely a need for parking, and I support this development," said Mark Dancer, a downtown property owner. Residents opposed to the project have until mid-April to file a referendum on the issue. A public vote likely would be scheduled for Aug. 8.
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