At tonight’s (September 21st) City Commission meeting, the Commission is scheduled to have a discussion item regarding plans for Downtown Redevelopment from Taurus Investment Group (TI Group). There is no formal agreement on the agenda tonight, and no agreements with the developer have been entered into. The developer is expected to provide an updated presentation regarding their proposal to the City, and staff has requested that the City Commission, in its consideration of the presentation, "provide guidance regarding moving ahead with the proposal from TI Group, and identify any project elements that should be kept, removed, or reconsidered." If given such direction by the Commission, negotiations with the developer with the developer would continue after this meeting, and a formal agreement would be considered by the City Commission at a later date.
Tonight’s presentation follows a number of other public meetings on the topic, including the initial Request for Proposals (RFP) which was approved by the City Commission on October 21, 2019 and issued on October 31, 2019.
• The RFP stated that its primary goal was to “create a unique retail, restaurant, and entertainment destination in the City’s Heritage Village.”
• The document noted that “residential components should be included only in support of a larger proposal directly resulting in the creation of restaurant, retail, and entertainment space.”
• The RFP also included as a secondary goal the relocation and consolidation of City facilities.
The City received two proposals, and the City Commission voted at its February 17, 2020 meeting to advance a proposal from TI Group to further negotiations and refine the concept. TI Group later provided an update on their progress in the form of a presentation at the August 24, 2020 City Commission meeting.