|
338
<br />
<br />December 22, 1977
<br />
<br />The following letters supporting the applications were received: (See Exhibits 77-456)
<br />
<br />Downtown Portsmouth Association, [nc.
<br />Wesley Community Service Center, [nc.
<br />Newtown Community Development Committee
<br />W. B. Cloe, Jr., President, Portsmouth Chamber of
<br />
<br />Commerce
<br />
<br /> R. E. Bush of Bush Development Corporation and representing George T. McLean Co., Inc.,
<br />spoke, requesting the following letter to be read:
<br />
<br /> 'The George T. McLean Co., Inc. and Bush Development Corp. are writing to advise you
<br />that they strongly support the City of Portsmouth in its application for a grant under the
<br />new Urban Development Action Grant program authorized by Congress the last week in October,
<br />1977. As well-known local developers, they applaud the efforts of the Portsmouth Redevelop-
<br />ment Housing Authority, through its Director D. Bart Frye, Jr., and the City of Portsmouth
<br />through its City Manager Robert T. Williams, in their prompt, expeditious and energetic for-
<br />ward movement.
<br />
<br /> Undoubtedly, the City of Portsmouth and its citizens stand to reap many benefits if the
<br />City's application for the grant is successful. The principals of these two organizations
<br />have admired the way in which the City government of Portsmouth has undertaken the orderly
<br />redevelopment of its old and run-do~ waterfront and downtown area. As a matter of fact,
<br />they feel as though they may have given added impetus to the effort by their erection of One
<br />Crawford Place-- the only middle to higher income highrise apartment in the City.
<br />
<br /> Since the time Messrs. McLean and Bush built One Crawford Place, they have been awaiting
<br />the availability of redevelopment land for additional construction, and now that such land
<br />is available, they would greatly appreciate the opportunity of being considered as a develope-
<br />jointly. Moreover, as a highrise apartment developer, they have been aware of the fact that
<br />the possibility of a grant of the type now being sought was the necessary ingredient for thei:
<br />going forward with any project even if redevelopment land was made available.
<br />
<br /> As such a developer, the George T. McLean Co., Inc. and Bush Development Corp. would
<br />be able to offer many years of experience. Each has constructed, and ~n many instances operat-
<br />ed, highrise and lowrise apartment buildings. Each has built under various Federal programs
<br />and is fully cognizant of Federal contracts and regulations. Each is highly rated from a
<br />credit standpoint and each is extremely well regarded by many of the large institutional
<br />lenders in the United States. Together, and particularly in connection with a Federal grant,
<br />they are capable of handling a project of much greater magnitude than the presently proposed
<br />twin towers and adjoining commercial buildings, and would be willing to do so with a grant
<br />of commensurate size.
<br />
<br /> The proposed regulations concerning Urban Development Action Grants state, among
<br />other things, that:
<br />
<br />'HUD will also consider the extent of citizen participation in the develop-
<br />ment and review of the application, as well as the provision of technical
<br />assistance to citizens' groups if such assistance has been requested and is
<br />appropriate.
<br />
<br />.... No activities will be funded under this subpart unless there is a firm
<br />commitment of private resources to the proposed project. The private commit-
<br />ment must have a clear, direct relationship to the activities for which
<br />funding is being requested. The necessary private commitment must be identi-
<br />fied in the application. Examples of acceptable forms of private commitment
<br />include the commitment of a company to remain in the locality, the commitment
<br />of a developer, or a commitment of financing from such lending sources as banks,
<br />savings and loan institutions, credit unions, pension funds, ~nsurance funds,
<br />or other investors.'
<br />
<br /> The regulations also state that projects which have certain characteristics will re-
<br />ceive more favorable consideration for funding. One of the characteristics is that the
<br />developer was~selected through an open process.
<br />
<br /> Although they were aware of the redevelopment land, unfortunately neither George T.
<br />McLean Co., Inc., nor Bush Development Corp. was aware that the City of Portsmouth was pre-
<br />paring a proposal for a grant until they were made aware of it by the press release of last
<br />week. They would appreciate very much the opportunity of making an applicat~on as developer
<br />and would like to ~emind you that they are long-time citizens of the community; that they
<br />have constructed other buildings in Portsmouth, adding to the City's tax revenues; that they
<br />intend to remain in the community; and that they are qualified in every way to act as
<br />developer.
<br />
<br /> Needless to say, they respectfully request your consideration in this regard. J Signed
<br />by Geo. T. McLean of George T. McLean Co., Inc. and R. E. Bush of Bush Development Corp."
<br />
<br /> Commissioners of the Portsmouth Redevelopment and Housing Authority unanimously
<br />adopted the loll'owing resolutions which were presented to Council:
<br />
<br />"RESOLUTION OF THE PORTSMOUTH REDEVELOPMENT AND HOUSING AUTHORITY
<br />SUPPORTING THE SUBMISSION OF AN URBAN DEVELOPMENT ACTION GRANT APPLICATION
<br />BY THE CITY OF PORTSMOUTH."
<br />
<br />"RESOLUTION OF THE PORTSMOUTH REDEVELOPMENT AND HOUSING AUTHORITY IN
<br />SUPPORT OF AN APPLICATION BY THE CITY OF PORTSMOUTH TO THE DEPARTMENT
<br />OF HOUSING AND URBAN DEVELOPMENT FO~.A. ~E~A~FL?~7U~DER SECTION 108
<br />OF THE HOUSING AND COMMUNITY DEVELO MkN ~ .
<br />
<br />
<br />
|