Wednesday, August 29, 2007
sponsored by Illini Bank

City approached to sell property

Send a link to a friend

[August 29, 2007]  Unexpected interest in a parcel of property owned by the city of Lincoln was brought before the council Tuesday evening. Russell Fleshman said that he is interested in negotiating, if the city is interested, for the property at the corner of Pekin and Kickapoo streets.

Fleshman is interested in the adjacent lots that constitute a city parking area between the corner lot and the library, as well.

He told aldermen that he would like to put up high-end condominiums on the corner. For people living in the condos, he would construct either a covered, secured parking area beside it, toward the library side; or an alternative would be an underground lot, which, for improved movement of traffic and pedestrians, would have off-street entry and exit in the direction of the library. In either plan, some parking spaces and improvements to that area would be returned to the city.

Each condominium would measure 1,500 to 3,000 square feet.

If the parking were to be built below the condos, he would request a variance for height. City code limits buildings to three stories. The structure would exceed the city limit at around 45 feet tall and four stories.

Fleshman added that the structure would be high-quality, built of concrete and steel, with brick facade that would complement other downtown buildings, "I'm not just talking about four walls and a roof," he said. "I'm talking to you about spending some money here."

He also said that he would repave and line the portion of the parking lot area that would not be used in the project so that the remainder could be used for city parking.

Fleshman said that if this property were not going to be an option, he would consider another property that is owned by the city. The property with the drop boxes and a maintenance and storage building is just a half-block away. "I look forward to working with the city of Lincoln on this project and possibly two more," he said.

[to top of second column]

City attorney Bill Bates briefed councilmen on their option to sell property. There are two means to sell public property. One is for the council to agree with a three-fourths vote to put it up for public auction. The other option is to have the property appraised and sell it at no less than 80 percent of the appraised value.

However, the second option requires that the property be determined as non-tangible benefit to the city. While the corner lot could be considered non-tangible, the parking lot is a benefit to the city. So, only the first option can be acted on.

One clear concern to the aldermen was about the number of parking spaces that would be lost to the downtown area. There are an estimated 30 city parking spaces in the lots discussed, of which a few would be returned.

There are many questions to be answered in regard to the structure. A committee meeting to discuss it further is scheduled for Sept. 25 at 6:15 p.m.

[Jan Youngquist]

Past related article:

< Top Stories index

Back to top


 

News | Sports | Business | Rural Review | Teaching and Learning | Home and Family | Tourism | Obituaries

Community | Perspectives | Law and Courts | Leisure Time | Spiritual Life | Health and Fitness | Teen Scene
Calendar | Letters to the Editor