The city has set a target price of $615,000, based on a December appraisal, Thompson told the community development commission recently. Besides potential financial assistance from a location within an Enterprise Zone and tax increment financing district, the property also may benefit from additional traffic generated by the Garfield Park Conservatory about one mile east, he noted. Proposals are due May 4.
The department of planning and development is discouraging proposals involving residential units as well as gasoline stations, liquor stores, video shops, pay-day loan outlets and industrial uses. Instead, the city hopes to land a retail center that could include a grocery store, convenience store, bank or restaurant. Currently zoned RT-4, the property is being rezoned B3-2, Thompson said. The zoning change would allow development up to 134,000 sf.
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