Quakertown to vote on resolution for application for triangle development funding
Updated On: May 20 2014 07:45:57 AM CDT
Quakertown Borough Council plans to formally take the first step in developing the downtown triangle property at next month's council meeting.
At Monday night's workshop, council discussed the filing of the Redevelopment Assistance Capital Program application and the issuing of an opinion of borough council.
Borough Manager Scott McElree said the application and opinion are state requirements the developer must meet to secure $2 million in state funding for the project.
The total cost of the project is $6 million. The developer is David Halliday of Village Centre Properties, Blooming Glen, Bucks County
"The developer has to come in and show where the rest of the money is coming from," McElree said.
Specifically, the application must show the borough is the taxing authority and the opinion must indicate no litigation exists that will hinder or prohibit the project from moving forward.
"This is just getting the funding solidified," McElree said.
After the application is approved, the developer must next meet a number of other requirements such as appearing before the borough planning commission, receiving PennDOT approval, securing building permits and receiving approval from the Bucks County Planning and Conservation commissions.
"It's sort of a formality," Council Vice President Donald Rosenberger said. "They [state] need a resolution from council."
The deadline for the application is June 30.
The proposed 30,000 square-foot, three-story building at Third and Broad streets will include a pub and restaurant on the first floor, executive suites on the second floor and conventional office space on the third floor.
McElree said construction may not begin until 2015.
The development has not gone without public opinion from downtown business owners who argue the project will adversely affect the success of their businesses.
Council will meet 7:30 p.m. on June 6 to vote on the resolution.
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