Title
Historic Preservation Demonstration Project Grant - First National Bank Building - 1506 E. McDowell Road (Ordinance S-51098)
Description
This report requests the City Manager, or his designee, to enter into the necessary agreements and conveyances with property owner 030812 Realty, LLC related to a Demonstration Project Grant of up to $150,000 to assist with rehabilitation of the historic First National Bank building located at 1506 (aka 1516 and 1520) E. McDowell Road. Further request for the City Controller to disburse all funds related to this item.
Report
Summary
The commercial Miracle Mile Historic District, located along McDowell Road roughly between 13th and 19th streets, was listed in the National Register of Historic Places in 2022. One of the properties identified as a contributor to the historic district (located at 1717 E McDowell Road) was subject to redevelopment which resulted in the loss of its contributing status. As a stipulation of the rezoning case for this development, staff recommended the developer contribute $50,000 towards exterior rehabilitation grant funding for contributing properties to the Miracle Mile Historic District. The Community and Economic Development Department (CEDD) committed to providing an additional $100,000 towards a grant fund for rehabilitation of contributing properties to the historic district.
On March 21, 2024, the Historic Preservation Office received a Demonstration Project grant application from 030812 Realty, LLC, doing business as Ace Uniforms of Phoenix. The LLC is the owner of the historic First National Bank building, located at 1506 (aka 1516 and 1520) E. McDowell Road, and is requesting assistance to rehabilitate the building, which is a contributor to the Miracle Mile Historic District.
Ace Uniforms of Phoenix is requesting a $150,000 Demonstration Project grant to complete rehabilitation of the property for its continued use as a retail property. The project scope of work includes roof restoration and repair, storefront rehabilitation, stucco repair and painting, rehabilitation of historic windows and replacement of fixed glass, and restoration of the historic wrap-around canopy.
Financial Impact
The requested amount is $150,000, of which $50,000 is developer-funded and $100,000 is available through Community and Economic Development Department's budget. In exchange for the grant funds, the project will create new tax revenues and support the further revitalization of Phoenix’s commercial Miracle Mile Historic District through the increased utilization of a historic property. In return for the funding, the property owner has agreed to record a 30-year conservation easement on the property.
Concurrence/Previous Council Action
- The Historic Preservation Commission recommended approval of the grant funding on May 20, 2024, by a vote of 6-0.
- The Transportation, Infrastructure and Planning Subcommittee recommended approval of the grant funding on June 20, 2024, by a vote of 4-0.
Location
1506 (aka 1516 and 1520) East McDowell Road
Council District: 4
Department
Responsible Department
This item is submitted by Deputy City Managers Alan Stephenson and John Chan and the Planning and Development and Community and Economic Development departments.