After what Mayor Mike Turner described as having “a couple false starts” going back to 2008, Woodstock is working to redevelop the Die Cast site downtown.
The City Council recently approved a negotiating agreement with Chicago-based Murphy Development Group, as well as a tax increment financing inducement resolution.
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After a developer backed out last year, Murphy was one of two developers that gave a presentation to the council earlier this year on proposals for the site.
Both developers proposed apartment housing. Murphy’s plans, which Turner stressed at the time were very preliminary, included 13 apartment buildings and potentially an amenity center and open space.
According to city documents, Woodstock officials picked Murphy because it aligned with Woodstock’s “goals for how the site should develop, and because they demonstrated the organizational capacity needed to execute a project of this complexity.”
Council member Gregg Hanson said he was generally supportive but would be voting against an exclusive negotiating agreement. Hanson said the plans for the site needed to include a public amenity.
Hanson said the taxpayers had “maintained and sustained” the property for 25 years. He thought they deserved an amenity like a quarter- or half-acre park with “a piece of art in it. Not looking for anything great.”
The mayor pushed back on Hanson’s comments, saying that they could be “premature” at this point. Turner said he would not necessarily expect such details at this stage, and he pointed out that if four council members decided they didn’t like the proposal because of the lack of a park, not only is it early, but “you would have just killed an entire initiative that I think makes sense for us to support.”
Dave Ariola, a managing director at Murphy who is managing the Die Cast project for the developer, said the company is “thrilled” to be working with Woodstock.
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Ariola said next steps include refining plans for the site and coming up with more solid concepts.
Turner said he had gone to lunch with Murphy team members and some staff members, and one of the things “they got a dose of” was a concept of a public gathering area being part of the project.
Turner said he “wholeheartedly” supported the agreement because “of who this partner has become with us” and the project’s potential.
As part of the agreement, the city is planning to create a new TIF district. Turner said that move “maximizes the impact of the development.”
TIF districts are tax subsidies that allow new property taxes from redevelopment within the district to be channeled back into the property rather than distributed to taxing bodies.
The mayor said TIFs are “important and critical tools” to support development and improvements in the city.
The council voted 6-1 in favor of the plan, with Hanson being the only no vote.
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