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LEASE' _ o'
<br /> Con#inued from At . ' Continued 6
<br /> w +�p 1
<br /> } t E� .,largely dil
<br /> Avenue:-More than half of.the... �y,v ��
<br /> �' '' 4k filled;with
<br /> parcel is covered,by the end of E +$k «Wtu ' { :
<br /> the.Deep,Water Channel, and title ` t, k menta s, b
<br /> ...,..at limes, it
<br /> desthe
<br /> ccendants-of Slocktons held bye' The xi
<br /> ' ,founder,
<br /> .JiCharles M.;Weber.' a�• t>.�}.;s
<br /> :a -�... . to
<br /> IKrieger has beeiiI negotia$ng`to 'came... '
<br /> buy the property with representa- settle is
<br /> flues of the Weber family for two briefly,.cri
<br /> ' years. A redevelopment plan by meeting"At that t
<br /> ,m the.city's Waterfront_;Revival_Task
<br /> I
<br /> Force calls for.construction of a . -Director M
<br /> plaza and fountain around'the' °:GI FM s2
<br /> to
<br /> make
<br /> channel head. to disc
<br /> But the council's redevelopment t M
<br /> advisers recommended against the m d tent. t
<br /> proposed lease and purchase :, the lottel
<br /> Public Rei rep
<br /> option during a SepL 17 meeting.
<br /> Members of the Redevelopment '
<br /> ;..��'The
<br /> en
<br /> Commission, residents appointed M the to pe
<br /> t by the;corincil, called the price,,
<br /> and depe
<br /> "Outrageous" grid gave the plan`a -'for publi
<br /> imanh .,nous-thumbs down: - Oen'
<br /> 'on Monday,.Vice_Mayor Floyd pis'
<br /> Weaver' 'and Councilmen Ted A ped`
<br /> Gonzales "and Mel Panizza voted that of u
<br /> against the purchase pian. 1995 wou
<br /> .e :Record photo by AMELITA MANES g lion in 5
<br /> I frankly think we're paying �':., ' � , . ,,
<br /> too much for this piece of prop ;NARKING ONW4 has agfeed'to a$5t},000 lease'of tfiris'site for downtown redevelopment` actual sy
<br /> iA
<br /> Panizza said. "It's been on income
<br /> er.$917 t
<br /> the market as long as l can` : ::
<br /> remember." like your liver door" Former industrial uses .along the the great-grandson of Stockton's. tion last.
<br /> Panizza said that when the city The council: agreed;'to-th' banks of,the channel,rriay have founder,.sw the family.ieceived a If tick+
<br /> left.behind pollutants that;will . $125: million offer several"years. years ha
<br /> Was considering' selling some. of terms;
<br /> Its land on the downtown water- ■ A 25-year lease on the proper have to be cleaned up before con ago from one.developei but.that change fi
<br /> front several years ago, redevelop- ty, with an option to renew for.. struction can proceed, according the government insisted that.every teries, tht
<br /> ment staff said a purchase price another 25 years and an option to -to a"city report. A former service last speck of contamination be have coni
<br /> ~_ of$4 per square foot was fair.The purchase for.$625,000• station on the site did leak gaso.; , .cleaned before a proposed office billion to
<br /> Weber family would receive $8.59 ■ The lease will cost $50,000 line Into the soil, but a cleanup.is .'tower could. go forward. The pro- In fou
<br /> per square foot for'its land --: annually:for.the'.first three yearsr" under way and'almost.complete, ject`evetrtualty stalled. :' sales hav
<br /> $19.62 if one considers only the but afterward, both.the lease'and the report.says. Hoch Weber and Krieger sand. vious ye;
<br /> portion that is above water. the purchase price will increase . ` Krieger said,-the.city will use federal.ertvimnmenta! regtilations" percent.
<br /> A representative for the Webers, annually'accoirlittg 164he'governfunds from .a $200,000 federal are now more fleidble far redevel largest 1+
<br /> however, said the property is ment's Consumer Price'Index. grant to test for'coritaminants opment projects." anted a`
<br /> essential to downtown-redevelop- ■ Half of the lease payments paid: The`city.also will check:to make Weber had little .to say Abotit accordinj
<br /> leant plans; " ' will be credited toward`the pur- sure the soli-is 'suitable:.for con Stocktores latest redevelopment ates on-:
<br /> 4: "It has a magical location as chase price. if'the city buys;the struction of the planned plaza plans ` state Pott
<br /> Mart of the Deep Water Channel;' , property m .the next three years and assess:the-condition,of'the "It can't get much worse, 1'sup The k
<br /> attorney Steve Herirm said. "As , Redevelopment_officials didn't sea wall,which was built In,I910 pose;' Weber said F have lag
<br /> 1• .'� you look down the channel, you; want. to• buy "the land now :Weber°descendants.present at •He and Ns,mother; Gertrude; most ott
<br /> Can see ,all the way to Mount because the.property could have Monday's meeting said the proper live In Sacramento.Another,great Califorri
<br /> biabio,on,a clear day. It's almost . serious environmental problems ty,has great potential'John Weber, grandson, Charles, lives in Texas total 37
<br /> L x capita sa
<br /> F1F �'• i. � ' F . ' standald.
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