Commercial Development Committee
Southwest Partnership
February 26, 2019
MINUTES

Attendees

  • Kenneth Watson, Chair
  • Bif Browning
  • Freda Ulman
  • Jane Buccheri
  • Frizz Barnes
  • Raven Thompson, BDC
  • Troy Wilson
  • Bill Freeman
  • Tressie Goodman
  • Karen Marc
  • Serigne Seck
  • Rodger Wood

 


Agenda


Welcome and Introductions

Approval of January Minutes

–  Frieda first to approve, and BIll seconded

Project updates:

Façade grant
– Subcommittee meeting Thursday, February 28th 6-7pm @ SWP Offices (1138 Hollins St, 2nd Floor)
– Masonry expected to be done on carey street by Friday for 1241 W Baltimore
– 1421 W Baltimore St application

Littlepage

– set to go to closing Thursday; have a leaseback to stay until end of year; committee will have task for determining re-use of main buildings
– bridge loan from acquisition fund and paid back within 5-6 months; BCL will take out loan to pay back bridge loan (5 year loan, interest only until we pass on to a business)

Lord Baltimore

– contract signed, bids in for stabilization
– Abell foundation: asked for support for consultant in putting together arts projects –> Michelle Wellie (sp?) hired, put together Hippodrome theater, Design School in Barclay –> March 1st coming to help to put together Board of Directors for Lord Baltimore –> put together package for financing
– Stabilization: $220,000; $175,000 for new marquee; couldn’t figure out which renovation to go back to without knowing what what could be salvaged –> just got evaluation this last week which favors 1912 exposed brick, which is cheaper option

– Committee discussed whether SWP should proceed with this project
— concern over project viability

— concern over whether project approval followed process through commercial committee

— concern over precedent for purchasing empty shell

— Committee resolved to make a motion to vote to not move forward with closing on Lord Baltimore Theater – Troy first; Bif seconded — the motion carried: 5 in favor, 1 abstention

1500 W Baltimore St
— 1518: no real updates from last meeting

New Business
– Bon Secours bought by LifeBridge → keeping Unity Properties, CommunityWorks

– Rodger Wood introduced Levitt Foundation that could build concert pavilion in Carroll Park in exchange for 50 concerts per year. Committee discussed idea and recommended those who are interested to reach out to the Foundation. http://www.levitt.org/bring_levitt

Motion to adjourn Troy, seconded by Jane