There were a lot of lessons learned up to this point. These are just a few.
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Mark Rivers, representing the Middleford Commons project addressed the council and provided an update.
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The first phase of the current grant work has been completed. Check the Interactive Map for more details.
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Mark Rivers, representing the Middleford Commons project addressed the council and provided an update. He notes that with the current economic downturn, Lithia Properties has evaluated their timeline for the project and that the given impact of the current economic factors the project is at a standstill.
Mr. Rivers noted that the partners will continue to evaluate the economic situation and will provide a quarterly status report. He noted that all the partners feel strongly about the project and they continue to desire this project moving forward.
Councilmember Kuntz questioned if the Disposition and Development Agreement requirements were being met and Mr. Rivers noted that all partners are in compliance with the agreement.
Mr. Rivers spoke to numerous large multi-billion dollar development investments that have been made in other communities and due to economic impacts are being shut down before completion. He noted that the partners in the Commons project are being prudent in evaluating the situation and waiting to begin construction. Councilmember Stout suggested that a press release be issued detailing this information to keep the public informed. Mr. Rivers noted this could be considered and that at this time the local taxpayer's investment has been minimal. The public funds expended thus far in this project have been for acquisition of property and relocation of the Greyhound terminal. Councilmember Statler questioned if bonds have been purchased or bond funds spent at this time. Jackie Rogers, Medford Urban Renewal Agency noted that the only bonds issued have been for the acquisition of property. Councilmember Strosser also spoke to the investment of public funds in the replacement of a 100 year old water main which was paid for by the Water Commission.
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