Tuesday, February 21, 2006

Coming to Terms with Pineapple Square

The City Commission accepted the revised term sheet for the Pineapple Square proposal by a 4-1 vote. Only Lou Ann Palmer voted against the proposal saying that even though she thought the proposal would be good for Sarasota there were still too many unanswered questions.

Commissioner Palmer asked many of the questions we have been asking: questions about the appraisal, the value of air rights, and the "accounting" of the parking spaces. Nothing was really settled with these questions as acceptable answers were not forthcoming.

Commissioner Palmer also pressed the issue of obtaining public parking spaces (in the proposed building on the State St parking lot) in trade for the current parking spaces on State St and in the First St parking lot (that the Isaacs want) as opposed to a cash payment. Given the price of parking spaces that developers want, as well as the difficulty we seem to have in negotiating an equitable deal, this seems to be a very good concept. The city would get more parking spaces without paying cash.

The city staff was charged with working out the details and putting together a contract based on the term sheet.

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