August 6, 2013, First Bank Building Presentation

Owasso Progress 7 articlesMay 2012 – July 2013

Owasso Reporter 8 articlespJune 2012 – July 2013

Tulsa World 3 articlesTulsa World 3 articles2013

Discussed in at least 10 public meetingsbetween March 2012 & August 2013

2 public hearings

No juvenile holding areas

No forensic processing area for vehicles or large items

Lack of space forLack of space for interviewing criminal suspectssuspects

Lack of space forLack of space for interviewing crime victims

6 Detectives sharing t ffitwo offices

1 Sergeant occupies1 Sergeant occupies storage room w/stored equipmentequipment

Limited storageLimited storage space requiring equipment inequipment in trailers

Off-site property & droom & records

storage

Training room is too small for current training needstraining needsInadequate locker space for employeesNo sleep centerNo briefing roomgNo break room for employee breaks/meals No fitness room or equipmentNo fitness room or equipmentNo dedicated work space or offices for volunteersvolunteers

Purchase First Bank building and renovate for use as Police Stationrenovate for use as Police Station

Cost prohibitive due to International Building Code requirements and relocation of jail & communications center

Acquire land, design, engineer, construct and furnish new Policeconstruct and furnish new Police Department

Estimated cost of $12.5 - $16 million38,369 sq ft building $10.7 million3 acre parcel $1.2 - $2.3 millionFinancing $750,000 - $3 million

Purchase First Bank building and relocate City Hall / Reconfigure vacated City Hall to support Police needs

Estimated cost $4.6 millionBuilding purchase $1.6 millionBuilding purchase $1.6 millionPolice remodel $1.4 millionCity Hall remodel $1 6 millionCity Hall remodel $1.6 million

Construct a new City Hall / Reconfigure vacated City Hall to support Policevacated City Hall to support Police needs

Estimated cost $9.5 - $12.6 million25,582 sq ft building $6.4 million3 acre parcel $1.2 – $2.3 millionFinancing $500,000 - $2.5 millionRenovate existing City Hall - $1.4 g y $million

QualityQualityCustomer ServiceEffi iEfficiencyEffectiveness

An analysis was performed on theAn analysis was performed on the available commercial land in Owasso.

Please note that costs are for the land only & each site has its own additionalonly & each site has its own additional costs and difficulties (sewer & water line extension infrastructure site designextension, infrastructure, site design, detention, floodplain)

• Approximately 3 acres needed for City pp y yHall & public parking

f• Available tracts found were mostly in core retail areas of town & along US-169

• $9-18 average price per sq ft =$393 000 $785 000$393,000 – $785,000 per acre

• A 3 acre parcel = $1 2 - $2 3 million• A 3 acre parcel = $1.2 - $2.3 million

Purchased May 2003Current uses:

Rented – Owasso Business Incubator & Owasso Community ResourcesCommunity ResourcesCommunity Rental Space for multiple usesPublic Meeting Space (City Council, various boards/committees)boards/committees) Municipal Court & Youth CourtEmployee trainings and meetingsStorage

Demolition CostsCost associated with relocating current usesCost associated with relocating current uses

First Bank Building – 2 story, office setting

SW corner of E 76th St N and S MainSW corner of E 76th St N and S Main Street

$1.545 million asking price (Tulsa County FMV $1.82 million)(Tulsa County FMV $1.82 million)

Property = 2.748 acres = 121,096 sq ft

Building = 26,866 sq ft

• Land - $1 545 million / 121 096 sq ft =• Land $1.545 million / 121,096 sq ft = $12.75 per sq ft

• Building - $1.545 million / 26,866 sq ft $57 50 ft=$57.50 per sq ft

*Owasso’s prime highway frontage land (undeveloped) averages $12-18 per sq ft

March 15, 2009 - Appraisal valued building at $2 4 million (G Cbuilding at $2.4 million (Gregory Company, Tulsa, OK)

October 2009 - Building is vacated

June 15 2012 Mitigation/repair estimateJune 15, 2012 - Mitigation/repair estimate by ESPO Fire & Water Restoration, Tulsa OKTulsa, OK

June 15, 2012 -Plumbing Inspection by J. , g p yQuinton Plumbing, Owasso, OK

June 15, 2012 –Electrical Inspection by Classic Electric CoElectrical Inspection by Classic Electric Co. Owasso, OKHVAC inspection by Dale & Lee’s Owasso OkHVAC inspection by Dale & Lee s, Owasso, OkEnvironmental inspection by Cox Environmental, Tulsa Ok (asbestos, mold, fungus, lead paint, etc)( , , g , p , )

June 18, 2012 - Roof inspection by Service S l ti Mi i OKSolutions, Miami, OK

June 20, 2012 - Appraisal valued building at , pp g$1.4 million (The Burton Group, Jenks, OK)

Feb –Apr, 2013 – Entire roof replacement (25 year Firestone warranty on upper roof, 20 year Firestone warranty on lower roof). Four (4) skylights replaced & refilled with new Vulkem joint caulking.(A B t R fi T l OK)(A-Best Roofing, Tulsa, OK)

Replaced east facing 2nd floor windows with insulated glass, re-caulked & resealed storefront. (Whitaker Glass g , (Works, Tulsa, OK)

Replaced drywall & ceiling tiles discolored or stained from previous water damage.previous water damage.

July 16, 2013 - Appraisal Update letter of engagement sent to The Burton Group, Jenks, OKto The Burton Group, Jenks, OK

July 25, 2013 – Appraiser re-inspected physical nature of building

August 9, 2013 - Appraisal to be presented to City Staff by The Burton Group

Buildings will ‘bookend’ the Main Street area

Planning principle to keep core City functions in the downtown areas to maintain stability and preventdowntown areas to maintain stability and prevent citizens from feeling abandoned

Promotes confidence in the revitalization of thePromotes confidence in the revitalization of the downtown area

M i t i t l f b i d id tMaintain property values for businesses and residents

Advances the City’s Go Green! Initiativey

Supports community policing initiative by pp y p g ykeeping main police headquarters in the downtown area

Would provide public parking for Main Street activities/cyclists/farmers markets and more

Strategic location at major intersection

Gateway into Owasso

Will encourage mixed-use development

-“First Bank of Owasso is a significant building at the intersection of Main St and E 76th St N…investment at this location creates a critical anchor for future downtown development.”anchor for future downtown development.

-Issues Identified: area is ‘left behind’, need b i th t d l l k f f l i tbusinesses that draw people, lack of a focal point

-City Hall and First Bank building are key buildingCity Hall and First Bank building are key building blocks for downtown re-development – Civic Anchors

Vision for Main Street Revitalization

New Police Department (est $12 5 $16 million)(est. $12.5 - $16 million)

New City Hall / Reconfigure vacated City HallNew City Hall / Reconfigure vacated City Hall to support Police needs

(est $9 5 $12 6 million)(est. $9.5 - $12.6 million)

Purchase First Bank building Relocate CityPurchase First Bank building, Relocate City Hall / Reconfigure vacated City Hall for Police

(est $4 6 million)(est. $4.6 million)