Spokane City Council Unveils Plan to Save Historic Rookery and Mohawk Buildings

Strategic Insights -

A plan to save two historic buildings in Spokane's downtown area has been unveiled by City Council President Dennis Hession. The plan, which involves the city purchasing the properties for $4.75 million, has garnered support from preservation advocates. The buildings, the Rookery and Mohawk, have been at risk of demolition due to a proposal by developer Ron Wells. However, Wells, who has a track record of successful historic redevelopments in Spokane, has expressed support for the city's plan. Former Mayor Sheri Barnard and other preservation advocates have also spoken out in favor of saving the buildings, citing the importance of historic preservation for the city's economic development.

Key Takeaways:

  • City Council President Dennis Hession has unveiled a plan to save the Rookery and Mohawk buildings in Spokane's downtown area by purchasing them for $4.75 million.
  • The plan has garnered support from preservation advocates, including former Mayor Sheri Barnard and developer Ron Wells.
  • Wells has expressed his willingness to sell the buildings to the city at a lower price than the original asking price, stating that the $4.75 million offer is $800,000 lower than the original negotiating price.
  • The city's plan is to resell the properties to a private developer for renovation and redevelopment.
  • The city's solid waste reserve account or other city funds may be used to finance the purchase of the properties.
  • Council members Mary Verner and Al French have expressed concerns about the plan, citing the need for further review and consideration to ensure that the city is not taking unnecessary risks.
  • The city is considering using limited general obligation bonds, also known as "councilmanic" bonds, to repay the solid waste reserve if the city continues holding the property beyond six months.

Statistics:

  • The price negotiated by Hession and owned by Wendell Reugh is $4.75 million.
  • Developer Ron Wells has a track record of successful historic redevelopments in Spokane.
  • The original negotiating price was $5.5 million.
  • The city's solid waste reserve account has funds available to finance the purchase.
  • The city's proposed purchase would involve a loan from the solid waste reserve account or other city funds.
  • The city could issue its own limited general obligation bonds to repay the solid waste reserve if the city continues holding the property beyond six months.

Sources:

  • Mike Prager, "Spokane City Council President Dennis Hession on Monday unveiled a plan to save the Rookery and Mohawk buildings downtown by having the city purchase the properties for $4.75 million and resell them for private renovation."
  • The Spokesman-Review, "Spokane City Council President Dennis Hession on Monday unveiled a plan to save the Rookery and Mohawk buildings downtown by having the city purchase the properties for $4.75 million and resell them for private renovation."