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City Council hears 2 proposals for Helen Baker Elementary

The Glencoe-Silver Lake School District’s building project is on track to be completed by the start of the 2017-18 school year, leaving the Helen Baker Elementary site available for redevelopment.
At the Glencoe City Council meeting Monday, June 5, Assistant City Administrator Dan Ehrke presented two options that are being considered for the site’s redevelopment, which sits on roughly nine acres of land. The Economic Development Committee has heard presentations from two development groups. Both groups have indicated that they will need financial assistance with the infrastructure improvements, including new street construction and utilities.
The first option comes from an unnamed investor group who wants to repurpose the building for a market-rate senior apartment complex that would hold 18 apartments. The project would include remodeling the existing building, re-purposing the Early Childhood Family Education building (ECFE) as a daycare, and developing single family lots. The preliminary estimates for these infrastructure improvements would be approximately $1.138 million. The predevelopment valuation of the land, once vacated by school district, is $698,500; the estimated tax valuation post redevelopment is $688,500. The proposed project would not qualify for a Tax Increment Financing District (TIF).

Check out the full story in the June 7 edition of The Chronicle.