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10/05/2006Developer expected to make new pitchTRAVERSE CITY — A developer, whose plan to include a public parking deck in his West Front Street project was squashed by city voters, is back. But no one is saying what Federated Properties' new plans are or what public funding the company may seek. More than 71 percent of Traverse City voters in August rejected a bond issue of up to $16 million primarily to pay for public parking in an eight-story, mixed-use development by Federated. The developer is expected to make a "presentation" on a "proposed plan" for property at 145 West Front St. at an 8:30 a.m. Oct. 11 meeting of the Grand Traverse County Brownfield Redevelopment Authority, said its director Jean Derenzy. Michael Uzelac of Federated Properties would not comment. Derenzy said the Oct. 11 meeting is "preliminary" and she does not expect the board to take any action. She met with Uzelac for more than an hour Wednesday and said he asked "lots of questions" but he did not reveal specifics about a development plan. The brownfield authority holds $5.49 million in state economic incentives tagged for public parking at the Federated site. It also has funds to reimburse the developer for demolition, site preparation and engineering work. The original plan called for the city's Downtown Development Authority to receive as much as $7.27 million from the brownfield authority for the public deck and other improvements. Local brownfield officials allocated Federated $1.2 million for the project at 145 West Front St. and a smaller proposed building on the north side of West Front. That plan must be reworked because the bond issue failed, Derenzy said. She said she does not know if Federated's new plans include a public parking ramp. It would have to be a public deck to be eligible for the $5.49 million. Derenzy said there are "many mechanisms" available for the developer and the authority to work together and said she is investigating them. "I'm hoping there will be a public parking component," Derenzy said. DDA executive director Bryan Crough said he doesn't know if Federated wants to try again on a public deck proposal with the city. "At this point there's nothing that we have to respond to," he said. City manager Richard Lewis also said he has few details about a new proposal. "Anything I would say would be total speculation," he said. See related story:
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