Because uh President Hudson and myself have to uh go to leadership, and I wanted to sort of like make sure we concentrate on this being a tax exemption agreement.

I wanted to have a public meeting on this about three different pr uh three different projects that we're talking, we were going to talk about, and I think we'll start off.

I got uh Commissioner O.

J.

here and Commissioner Collins, and I'm joined by President Hudson and uh Councillor Panag Panniagua and Councillor Nave.

Uh so let's get started with uh the first one 52 is a Southside Renaissance housing.

And if you can just elaborate on how far they're along as far as you're uh what you're aware of as far as the project goes, and maybe Commissioner Collins, if you can chime in on things that don't involve the tax exemption, the shelter tax agreement.

Yeah, grateful to have Commissioner Collins here.

Uh Matt O.

J.

Commissioner of Assessment.

We've been working with um Charlie and N group um well, since before I was doing the work.

I think uh Commissioner Clifford picked this up and handed this to me in in 2021, um, working through various iterations of this, um several properties on both sides of the 15 and 1600 blocks of South Avenue.

Um good mixed-use project with commercial downstairs, residential up.

Um I I think this is um in some ways creating some synergies with existing city policies and investments in the South Avenue corridor, future bus rapid transit corridor, neighborhood um starved for quality housing, certainly for affordable housing.

Um we're wholly supportive of this development team has been working through this trying to get it to the point of economic viability.

So this is the uh commissioner not to interrupt you, but this is the St.

Nick's alliance.

This and and yes, that that is I think um something they've worked hard to get to.

And I think for our and we as we well know, they're uh they've done many, many projects, especially downstate.

So St.

Nix on the development, I mean they started off um a small entity in Brooklyn, but but on the development side, they have developed a lot of housing down there.

And they currently manage I I want to say close to 3,000 units in the tri-state area.

Um they are they are established.

They've got a really good track record from a management perspective, and it seems like they've been good partners to to Charlene so far as well.

Okay, so uh so this will be 75 units.

Do we I know uh that this was uh they uh they originally went to not with St.

Nick's, but they originally went and got we're in the LITEC line basically, and they just didn't have uh the application all together in order to avail this.

Um this is their third crack, I think at HCR.

Uh techni so depends on how you look at it.

The the last they two years ago uh they submitted but did not have a uh uh an application that was considered because of uh missing the deadline for submission.

So last year was their first technically true submission uh which got them uh review.

And that was prior to St.

Nick's Alliance joining.

Uh since uh St.

Nix has joined, it's uh become much much stronger.

This is uh this is one of those instances where we've got a local developer and as we all have all you know, administration council and have been in agreement that as we grow as a city we want the uh the money that's generated here to to stay here.

Uh and development's a really hard thing to do.

So the fact that we've got a local developer who's now partnered with somebody that knows what they're doing.

Uh we think third time could could really be the the right time for them with HCR.

Uh so is the capital the original capital about more or less will be coming from St.

Nick's, you think?

I'm sorry, so then I'm not sure.

I said as far as the capital to build the building the the buildings needed to do the project properly.

Most of the capital is coming from the St.

Nix people, you think.

Well, the uh there's always private equity from the developer in there, but uh no, the the majority of the funding will be the the low-income housing tax credit.

Okay.

Uh that's always gotta be over 50 percent.

And then uh there'll be uh other permanent lending sources that'll be in there.

Uh we're expecting that they will apply to us for uh for some funding as well.

Um and then there is absolutely the capital from the private side.

So from the developer.

So they've already have they submitted their application.

The submissions are due tomorrow.

Yeah, that's what I'm wondering if they so tomorrow will know if they're submitting their application.

Uh yeah, so it but considering to uh Commissioner OJ's point, considering who they've partnered with, uh I'd I'd be surprised if they don't have a solid application in tomorrow.

Okay, and we've done our usual talks with uh the the state regarding it and all that, right?

Uh uh every two weeks.

And I think the council we sent a letter champion.

Yes, we did too.

And the mayor did, obviously.

Yes.

Yep.

Okay.

Are there any questions for my saying, Nick's?

They're downstate and they are good management of the properties that they have control over as well.

That yes, absolutely.

Okay.

Uh I appreciate everybody's work on this project.

And you know, as we say, we're we're in favor in the concept, and hopefully they'll be able to get through the process where they'll be able to get the you know, secure those low-income tax credits.

So agreed.

Okay.

And not questions.

So the letter we submitted, that's gonna suffice.

So uh our understanding from the uh uh homes and community renewal is that uh with the letter that you're providing, the letter that the mayor is providing, and then the letter that's coming specifically from Commissioner OJ related to this item that's in front of us.

Uh, that it is clear that makes it very clear to uh the housing finance agency that the city uh fully intends to do exactly what we're talking about.

Good.

Thank you, Commissioner.

Thank you, uh Commissioner.

And now we'll segue to 53.

Super excited about this one.

Sometimes I'm about some things.

Um to give it a little sold up.

So this is 680 South Avenue, um, west side of the street, directly across from the price right supermarket.

Um this is uh a site that I believe is in the flood zone.

Um this is 51 units, uh above structured parking, uh designed around the topography of the site, but really complimenting again um not only the BRT corridor, but the fact that we have this um public-private investment directly across the street, a real neighborhood asset in the form of a full service supermarket, um, close to downtown, close to JMA and other jobs in that South Salina corridor.

Um Keenan is a really sophisticated developer who I think knows what he's doing.

Um this is going to be built, I believe, to passive house standards.

Um this is it seems like a home run of a project from our perspective, and we're eager to support it.

So this is a change too, right?

From their original application.

Trinity, I believe, was the official applicant, if I'm not mistaken.

Keenan ultimately went out on his own and and has stuck with this project.

Well, good.

And so it's exactly that, right?

The the and and to Commissioner OJ's point, this is a the floodplain complicates this significantly.

No one wants to build in a floodplain because it's extra money, it's extra work, you've got more hurdles to jump through, so it takes more time.

And one of the massive problems that we have along the South Side, and and President you and I have had many conversations or uh around this, is the property values are so suppressed right there.

So this has got every amenity.

You're across the street from the grocery store, you're on you're on the bus line straight to downtown.

Uh, but also it has the ability to then have a positive development impact on the properties around it.

This is the type of project that there's not a lot of developers that could take it on or would take it on.

Trinity is um 30, 35-year-old uh uh development company that's that's done a lot of good work.

So the fact that Kennan was working there uh for a long time and no knew how to take this project with them, you know, we're uh it clearly he's he knows exactly what he's doing.

And I would tell you he has the full support of Trinity, which is also behind it.

So yeah, yeah, yeah.

So that this is this is one of those rare moments where you're you're you kind of get a little your eyes get a little big about uh the fact that someone wants to do this project that ticks all the boxes.

Uh so excited.

Michael, because uh my thought process is both these projects, they're gonna lift that community.

And it's gonna bring the property values because the property values in that area are really on the low end.

Exactly.

So with these properties, it's gonna lift the property value.

Yeah, yeah, yeah.

Um again, just really excited about uh what's possible.

Uh to make Sonyo first our community members uh new safe way to of you know place to leave.

New safe way to of you know place to leave.

So it's it's great.

I'm just thinking about living across the street from the grocery store.

I have enough trouble like keeping my weight under control as it is.

Like that like how much.

And there's how wonderful, right?

Yes.

Yeah.

Yeah.

Just create a new neighborhood.

Uh or bringing that neighborhood back to what it was like when I used to walk downtown at the end.

Exactly.

Exactly.

So it's it's it everybody that's that's that's stayed, everybody that's chosen that as their neighborhood, they deserve this.

Right.

So constituting a neighborhood, providing the opportunity for people to really age in place as it were there, but but also to Commissioner Collins point, I don't think we can emphasize this enough.

Doing what we do, that's either a vacant lot or it's this.

This is this is what the private private finance housing law is designed to incent.

Nobody's building in a flood zone.

We've got no shortage of flood zones around town.

So when someone wants to do this, we're gonna do everything we can to make it work financially.

And an important uh aspect of the HCR application is the assets that are around the project, and they're full of it.

Yes.

You know, they have the Jubilee Park, they have two restaurants, one coming up, uh, and the supermarket.

So it's a good sale, yeah.

It's great.

So where are we if the light?

I'm not sure if I should address this to Councilor Paniago, or uh are you uh where's where are they with the light tech application?

With the application, yeah.

They they uh they fully intend to submit to uh by tomorrow's deadline.

So we got two going in.

Uh so uh we expect that there will be total of three going in.

And that's the La Liga one?

Correct.

Because I'm a little surprised that uh the I'm not surprised at the la legal one, but I they finally gotten everything together as far as that goes, because I would have included this in the um in the announcement of this meeting if I knew that they were all ready to go to scattered sites challenging.

Um we we only brought this back to amend the initial order ordinance because there have been um resubdivisions involving the subject properties since we initially brought it to you.

The uh the some of the addresses in the SPLs are different.

Um so broad strokes, same project, strong project, neighborhood in desperate need.

Right, no doubt about it.

And so they're they're gonna be all submitted to the uh so they're in essence in competition with each other too.

They they are there's also uh you know, we we talked a minute ago about the complex uh nature of the financing for these projects.

Right.

So there are times in which a project is submitted where during the decision process for the housing finance agency, there are other expected awards that are built into the pro forma that decisions are made on, and that will influence what projects move move up, move down uh from uh from a scoring standpoint.

Because if it's you know, if you if you're expecting something and you get it, you're moving up.

If you're not it depends on the size of the hole that that leaves.

And if if the underwriter believes that yeah, you can make it up someplace else uh and still be able to you know perform, service the debt and maintain the property to a high standard, then you got a chance to to move through.

If not, then it'll probably wait until the uh the next year when the developer has a chance to either try for that or the funding again or find a different way to plug that hole.

But that's generally the way it works.

Uh not just uh while legal will be a two percent two increase, just like the other ones.

No, um we only instituted this after uh finance chair Williams decided that this was an important thing to pursue.

We we haven't felt it necessarily ethical to go back and ask uh for those terms to be negotiated.

Okay so all the legacy deals are the same flat over 15 years.

Except for this one.

These these two new uh the two new ones are Southside Renaissance Renaissance.

I don't I'll have to double check that letter.

Did I say two percent in the letter?

Well, yeah.

If it's two percent in the letter, then we've negotiated two percent.

Okay.

Okay, so the BLD it's certainly two percent.

And then the other one is that's going to be our MO going forward.

Okay.

Well, in general the word coin, counselor.

I was gonna hit a question.

Uh so is this housing open to anyone?

There's no restriction on income.

Oh, all income restrict.

Uh go ahead.

Okay.

Yeah, it's it's gonna so each project is gonna present a little bit differently.

Uh you have to it so it will all three of these projects are restricted income projects.

Uh they'll go up to about 80% AMI uh for some of them.

Um there's uh two regulating factors in where that caps out.

The the one is uh the developer needs to provide a market study that shows the uh the the current rents within the proposed development area, and then the housing finance agency needs to uh they stick to that because what they need to do is make sure that you're not predicting that you're gonna get more rent to make the operating budget work than you're actually gonna be able to get based on the market.

And then the housing finance agency needs to uh they stick to that because what they need to do is make sure that you're not predicting that you're gonna get more rent to make the operating budget work than you're actually going to be able to get based on the market.

The second, because the most conservative uh partner in this is the investor.

The investor, if they're the ones that are are purchasing the bonds and need to make sure that they're gonna get paid back.

So those are really our two limiting factors.

Uh but uh we've got income averaging uh in place on the uh the one that Kennethby's doing.

Uh off the top of my head, I I'll go back and take a look.

I don't recall if we've got income averaging going with uh Sherlene Tarver's project.

I believe we do, but it's worth double checking.

Okay, yeah.

And so what that does is New York State will say you you you know you need to average out here, but this way you've got the range.

So we can bring some of the higher income in and we can help some of those people that are uh really stuck at a lower income.

But there's no government overs there a government overseas.

So they they will have to uh certify the income of every resident every year.

And who it's gonna be a private entity?

So uh yeah, so the uh what happens is and Commissioner OJ can can speak to that that better, but they do have to perform uh former private entity uh within definitions that are provided by the housing finance agency.

So are we looking at all one level or is there multiple levels?

Uh physical level or level of income.

Levels.

No, I mean the of the apartments now.

It's all on one level.

Each of these is a four-story building.

Okay, it's four trends.

So I assume also there'd be like a courtyard, maybe a community room.

I know that Charlene's project has a lot of community space.

Um BLD's, I believe, does have some kind of amenitized space.

In the first floor.

La Liga's the La Liga projects scattered site.

That scattered site, I believe the South Geddis property, if I'm not mistaken, does have some community space on the ground floor building too.

Yes.

And those are always challenging spaces because you build them out and they continue to cost you.

They generate no revenue.

Uh and when your revenue generation is capped by the uh you know, the housing finance laws around, hey, you you can only charge so much because of the income level that you're renting to.

Uh it is difficult to build that in.

You want to keep our prices low, so assume there may be uh an elevator or a ramp.

Each of these will have an elevator.

Yeah.

And and to that point.

It's very difficult to reconcile.

I think what we want out of a community, our community and neighborhoods, versus what will cash flow.

So to this point, we need mixed use.

Mixed use might not fill up for 10 years.

And we see this on South Salina Street.

We see this on on um North Townsend Street.

And this is why I hope we take a pretty liberal and merciful view of these projects when we bring them before you that they do need this assistance to move forward with what we want because what we want is not necessarily viable.

Yes, it's it's being flexible and nimble, which I like or flexible.

Or say government doesn't always exercise.

Uh speaking of that, obviously the with the La Liga project, uh they've they had a originally they had a partner when they first did this.

They still do Akasia has done a lot of downstate development.

Okay, so Ocasio is part of this uh La Liga West Side Village LLC.

So uh La Liga rolled in under the Acasia umbrella maybe seven, eight years ago.

Uh and so they they've been operating as a uh as an uh acasia entity, but maintaining their own identity, their own board.

Uh and one of the things that Akasia does very specifically is develop uh affordable housing, and they've got a history of doing it downstate and they've um been successful.

So what I'm gonna ask uh both of you, maybe you will commissioner uh uh to let the council know uh when if they all three of them submitted.

Absolutely.

Yeah, just let us know.

Yep.

Um Yeah, the uh so uh by regulations that uh they uh each applicant needs to transmit a letter to uh the mayor's office that outlines their application, and so we'll make sure to share it with you.

Excellent.

I don't know.

It would it would happen after the application is submitted.

Good.

Excellent.

Well, you know, we hope all the three of these projects are awarded with Live Tech money.

Um and I appreciate your efforts.

And I'm gonna skip back to 51.

Um is this just your department.

51 is uh it it is and that's the uh Johnson Vocational Center.

Um I you know, I think I don't know if council I think President Hudson was on the RFP along with me.

This was the RFP process was that during COVID, I can't remember.

No, no, it seems like ages ago, but it's not that many ages ago.

COVID seems like sort of ages ago.

Time is flat lately.

Um maybe it's because we're on Zoom or whatever we're we are on.

I think we were, yeah.

Okay.

Um this was last October, I believe, that the RFP committee convened.

Um for background, um we end purchase an NBD put out uh six different RFPs for school district properties in spring of twenty-four.

Um shall I go down them or will that be way too far down the rabbit hole for us?

Well, okay, we're we got some time, so maybe we'll go a little bit walk halfway maybe.

Okay, so for the former H.W.

Smith Vocational Tech at 200 Park Avenue, we put out a get rid of the building RFP and uh re relocate existing skilled trades maintenance operations RFP.

For 725 Harrison, the central offices put out the same thing.

Move into Class A office space for the folks who work there, leverage the building.

Same thing for the Johnson Vocational Center.

Um we got no takers to relocate the operations.

We got several takers to um do something different with a with a pretty large, well-located property, 33,000 square feet of land with a 50,000 square foot former automotive building on it.

Um we we I think were pretty explicit in the RFP that we wanted to see housing.

We wanted something that would provide a sustainable um bump to the tax roll and something that would make it worth the city's financial while in the short term too to part with an asset.

Um as you both probably recall, we got um a couple good responses, but we decided to advance the most viable one, which involved 138 units of housing, mixed income housing, above a podium that would contain some parking and some commercial space.

Um it would allow the city to retain control of the asset, which is something that we're always favorably disposed to do, and it would pay us, you know, fairly good consideration for long-term use of our asset.

Um as we really began to advance in negotiations through this past spring and summer, we received internal guidance that it would be wise to get get the property appraised, which I think represents some alignment between the executive and the council here.

Um I know I've been up here in the past and you've requested that I come with uh a little more data in the form of an appraisal.

So that's what we'd like to do here.

Um simply I think to buttress our data point that is we had responses to the RFP that demonstrate some bracketing of the value of our asset.

We'd like an independent third party to come in and tell us just how close to accurate that is.

Okay.

Uh remind me of the price.

This was going to be a 65-year ground lease for consideration of a million twenty-five thousand dollars.

Okay.

Um, unbeknownst to me, and maybe I don't know, maybe somebody else caught but part of the property, if they redevelop this property, part of the property belongs to an a home uh a property owner right adjacent to them, right?

No wall?

Not no.

It doesn't.

There is a party wall.

Um, you know, the the the west wall of the Johnson Center and the east wall of the uh the building whose address I don't know directly to the west.

They they have a a party wall, which is on the property line.

Um say what it's called, a party wall.

Party wall.

P-A-R-T-Y.

P-A-R-T-Y.

It's always a always a party when uh we invite.

She is always there for the party.

So it's so meaning two two meaning two parties own the same wall.

Oh boy, we could get into some distinctions on this one.

Um so how's this gonna work?

If they don't if some there if there's some property interest in the other wall in one of the walls.

Well, simply in the demolition of this building and the cons uh in the demolition of the existing Johnson Center and the construction of a new building.

Right, we negotiated an agreement not to disturb their property.

Um you can see this in the we have not advanced that far in the negotiations yet, but that will be done.

Every attached row building around town, you know, everything right here in the 200 block of East Water Street, uh South Salina.

This is not unusual in the least in in urban development.

I you know, I think this is sort of intro, you know, and that's something new to me.

Well, we don't do a ton of these with the city, but but but in the development community, this is far from unusual.

Right.

But I'm I'm talking uh there is, and there is in that location, there's some significant uh there's a paucity of parking in that area too.

And it's all owned by the guy who owns part of that wall.

I I not agree with that characterization at all.

You think we have way too much surface parking in this, uh especially east end of Jam Town.

In the general area?

I was surrendered that.

That is my perception.

Um I think it'll be tightening up in coming months and years.

Yeah.

Uh I think this will all be part of a discussion that when we finally decide to sell this building, correct?

I think I think that's wise, yeah.

Yeah.

Um, all the pieces matter.

Um you you develop surface parking lots, demand stays flat, supply goes down, obviously that affects I'm not totally in favor of service parking lots, but we're in the building of development where a certain number of people gonna are gonna, unless they all use the trolley, which we don't have anymore.

They're gonna need to.

Well, I mean, this is this is the thing though.

You built you build density on the 500 block of East Genesis Street.

This is walkable within a 15-minute walk shed to darn near everything you want, and including the price right in the 600 block of South Avenue.

Well, we're gonna have to, you know, obviously have you know make a uh some sort of accommodations for parking there.

I do believe there'll be some on-site parking.

Um yeah, and off the top of my head, I don't remember how many spots they intend to provide, but some.

Um, you know, it's MX5, I think.

Eric, is that a crazy thing to say?

We're we're MX5 in the 500 block of East Genesis, so there's there's no parking required, but they are intending to provide some few dozen parking spaces.

Yeah, well, you know, rezone went through this body, and I was in favor of that.

You know, the parking is a task.

Great.

So anyway, well, that I just wanted to bring that up because I'm I'm in favor of the appraisal.

That's a good move, and uh we'll go from there as far as uh when we get to the point where if we decide to sell the properties.

Yes, we very much intend to have legislation requested before you this coming quarter.

Um we we want to move this forward.

The development partner wants to move this forward, and we need 138 uh units of housing, right?

You know, yesterday.

The developers were where's the developer out of uh and Penrose is is a national developer.

They're partnering with Hanover Ventures, who's a local developer who we've dealt with.

Yep.

So we are Hanover's own same, is that the same outfit that owns the SNK building?

They are in contract on that, yes.

Oh, you know, when that came up this morning, we were talking about the SK building.

Was there um their pilot agreement obviously doesn't begin until they actually start construction, correct?

I don't believe they have been through the CIDA process on that.

And and I've been through the CIDA process?

I think they are working toward that.

Um but but but to answer the the question.

Oh no, we still they're still in contract.

We still own the building.

We are paying ourselves some small bit of taxes because of the commercial use on the ground floor, the upper um six floors are vacant.

So okay, I may I got mixed up because there was a big content press conference and all that.

So we haven't actually sold that building to or we haven't handed over the building.

Common common council authorized uh local law I'm black out local law in late 23 to convey.

We went into contract and I believe March 24, um, have amended it once to extend due diligence, but they are very close on their financing.

And uh and I do believe we'll be closing this thing sooner than later.

So until they accept the building, they get their financing the that's when they go back on the tax rolls for a little time until they get a pilot agreement.

We'll we'll send them an omitted tax bill uh the week they close, yeah.

Okay.

So in other words, they owe okay, let's go back to the case.

So when they close on the trendset low taxes now, or no, we we are still the owners of the building.

Oh, we are the owners.

We have a little bit of tax liability because um are we maintaining the building as much as we possibly can?

Yeah.

So it's in pretty good shape.

It is well, it needs new windows and new masonry and new.

How would you know?

Uh I keep eyes on on our properties.

I know.

Um I also happen to patronize the barber on the ground floor.

So Council Hogan is.

I remember one that was Bardines back in the day.

Remember part of what?

Remember Bargains store that was right there?

Yes, school supplies.

Let's see.

I love a trip through history, but uh my my history uh didn't be didn't begin uh in that era.

So please keep us aware of when so we've already uh the council's already approved the sale.

We're just waiting to hand it over.

Yeah, we once we hand it over that they still have to go through the CITA process in order to get the pilot agreement.

They actually have to, I think.

I don't know if Eric wants to chime in here, but I think they have to do, don't they have to begin some sort of construction in order to do that?

Thanks, counselor.

Yeah, it was uh I was only gonna come up if uh if necessary here.

Eric and us neighborhood business development.

So the project team has been working on the financing that that Matt referenced.

There's a number of grants that have been awarded to the project as well in order to proceed, and then they are preparing their submission to CIDA for abatements as well as uh pilot structure.

So we have not gotten that final application, and so we still need to go through that formal process.

But their intention, they've shared their intention would be to come before the IRA.

Why wouldn't they go through site and just get it all prepared now?

A big piece of it is that they the finance we want to identify what the financing structure is because that immediately, for example, a mortgage recording tax.

That's one of the things you need to understand what is the value of the mortgage.

To determine the value.

So some of that information they're working through right now with different lenders and the grants, and then they'll have a complete application that then SIDA could review.

Yeah, obviously, because not so they can't get that, like access that until they actually get somebody who's going to back the project, right?

Sure.

Yep.

But they they've had a design professional engineer all working on the building plans.

And then at the same time, they're they're actively working with lenders.

It's it's just what we want to do is when the IDA receives the application, they they we want to have those things buttoned up.

That's going to be a mixed income.

Correct.

Yep.

And then commercial space on the ground floor is.

But um the intention has always been mixed income with that project.

So when we issued the RFP for this, one of the um uh one of one of the things that was really uh important all the way around, and and Counselor Hudson, you you weighed in strongly on this as well.

I recall uh the fact that it this would be a true mixed income project uh because of the physical size of the building that uh and what our current market is, uh that makes it really challenging to put together the the finance structure.

So uh while for us it feels like this is this has been a little bit of time, this is a typical amount of time for the fact that they've been under contract for 18 months uh for us to be able to move uh for a developer to be able to move through a really complex project.

They absolutely do not intend to go with a lie tech uh project because to do so they would have uh two challenges.

One is the fact that uh the number of units in the project would would probably not fully pencil out.

Uh the other is that the uh first floor does not translate well to apartments because you don't uh have any setbacks, right?

You're the right of way, the sidewalk comes right up to uh to the windows, and that's just not an appropriate place to have an apartment as per our zoning.

So uh every other response that we got to the RFP wanted to do it as a fully affordable project.

Uh and and this is gonna be in the end, probably a similar timeline to what we see for uh uh these types of projects.

And because of the zoning passed by this council, there'll be affordable units in that building.

Uh so that this when we say true uh mixed income, uh so first of all, yes, but it would be a larger mix than what's required by zoning, and that does mean that they get to go out and get some subsidy through New York State.

So they are in regular communication with New York State about the project.

I am in regular communication with New York State about the project and with a developer uh on it, and they continue to work diligently.

You know what I'm concerned about, because we're so close by Syracuse University.

I don't want it that to turn in where it's good it's gonna turn into student housing.

You know, I mean you're gonna be a mixed use and students.

Well, I'm gonna lease, you know, because you're so close by the university.

I would I would say, counselor, what we've seen from Syracuse University is they're currently working on on building two new dorms right now, right?

Is that um the university has worked very intentionally in their development to keep their students on campus.

Okay.

Uh and so while that's for those of us that are not with the university, that's that's always something that that pops up as a is a thought.

When you look at how the university has behaved from a development standpoint that doesn't align with what they've been doing.

I know because we're right by the hospitals too.

But there's another thing that bothers me, is that we have made proposals in the past, and for some reason we don't get the funding and we drop it.

It was like with Almond Street, you know, where that old gas station.

I haven't heard anything more.

We drop that proposal.

I haven't heard anything more about the Anadoga hotel.

So I'm just like to know when we're doing a proposal, I know there's gonna be bumps in the road, and I don't want to see this just fall through the cracks.

You know what I'm saying?

I'm very concerned that we get these projects through.

And and to that end, uh Eric and his team are uh in in constant communication with uh uh with the development teams on this when it when it's housing related, uh Deputy Commissioner Sapansky's team, myself uh on all of them, uh, because it it is it's a very iterative process.

There's a lot of endurance uh all the way around.

And uh, you know, it's tough for the public to look at it and say, well, look, you talked about this a while ago, and and I don't see anything happening.

And that is one of the challenges when we're uh a city like ours that is growing out of uh an incredibly suppressed property value situation.

And we still on the housing side, our rents are still in the bottom third of the average for the nation.

Uh so we've had tremendous growth from a percentage perspective, but our property values are still don't look like what the national average is.

And that makes it hard to borrow more money against the project.

And so you you need a more sophisticated developer.

Thank you.

Commissioner, both of you commissioners are any other questions for my I have a question, but it's not about anything in the book.

Question for you, Mr.

Collins.

Um factory.

They took down everything except for that wall.

Is that wall hole in the street?

That's a great question.

I will check with uh our codes department on uh exactly why it's that way, and I will get back to you.

Yeah, it it it may be uh providing some type of retaining uh j just because it one of the things that you have to pay attention to when you're bringing the building down is is what does that mean for runoff?

Uh and obviously we don't want to fill our our storm sewers uh with anything that it shouldn't be going down there, anything other than just rainwater.

So that does come into consideration.

Don't know if that's the case here, but I'll look into it and find out today.

Sure.

You know, I I appreciate all your efforts.

Uh over the weekend I was in Detroit, the National Land Bank Summit.

We did a tour of a lot of what have been challenged neighborhoods, and they had actively housing had been started in all those neighborhoods.

Downtown Detroit is really come back, and I look forward to that happening here in Syracuse.

Uh Did you make it to a Mets Tigers game?

Not Mets Tigers.

We did see Tigers White Sox, so I went a day early to see them.

So that's right.

Because you have to have your priority straight.

That's well known, Council Commissioner.

So with that being said, no other questions, I'll uh just meet him to be adjourned.

Thank you all for thank you.

Thank you, everybody.

Thank you, missed the Mets by a day.

I know.

Well, it's a cloud of the Yankees.

Uh last night.

So did you love the ballpark?

Huh?

You love the ballpark?

Yeah, yeah.

No, I don't know never in my own.

That's on my you know, I love my husband.

So it's on my buttons.

How much do we want to tell us?

Beautiful buildings.

We've done all the buildings and a small small go away.