The city of Rochester administrative staff has put its support firmly behind the use of tax-increment financing in conjunction with one of the city’s most public development proposals, a Holiday Inn at Second Street Southwest.
City administration spent about three weeks compiling a report that reviewed development issues related to the Holiday Inn development and other development questions in the Second Street Southwest corridor. City Administrator Stevan Kvenvold provided the report to the Post-Bulletin on Tuesday.
“The city staff after that last (Destination Medical Center Corp.) Board meeting took it upon themselves to keep getting some information put together so we could keep continuing and hopefully make some decision for the developer, who has been at it for some time,” Kvenvold said Tuesday.
Rochester City Administrator Stevan Kvenvold said the City shares the Board’s emphasis on early transportation planning as essential to long-term development of Destination Medical Center.
Part of that will mean working to define specific plans and work with the Federal Department of Transportation to secure grants and funding for the projects, something the City intends to undertake in partnership with the Rochester-Olmsted Planning Department.
While the transportation piece will be critical to setting the stage for resident and visitor movement into and throughout Rochester, Kvenvold’s updates on the Chateau Theatre will perhaps be of more import to local residents who have championed preservation and re-opening of the historical landmark.
The city’s bid to purchase the Chateau from its current owner is tentatively set to finalize within the next “couple of weeks,” Kvenvold said.