9th and Main: Now (finally) Available

[thelakelander]

RFPs have to issued for public properties. Dealing with government is a totally different game compared to how things in the private sector works.

[MusicMan]

I know.

But it is not the best way to dispose of properties IMO.  It works in some instances but not in others (I see you Peter Rummell).

The idea that RFP works for every prop the City owns is quite simply, wrong.

The COJ owns so many properties such as vacant lots and abandoned homes/commercial structures that I don't see a way out for them. The fate of those properties is purgatory.

New Idea!!  The City creates it's own Real Estate Brokerage and starts listing all the properties it has For Sale, with the goal of disposing of 2000 properties in 5 years. Start with the least valued props and work your way up. I am pretty certain people would be shocked at how many properties the City owns.

In fact, wasn't a compilation done a few years ago? What happened to the study?

[fieldafm]

The City doesn't work like that.. and if it tried to, it would do it very poorly. What you would be left with, is a system that rewards politically-connected individuals that would ultimately cost the City money- and not result in a net benefit. I'd keep your eyes out for a soon-to-be-published article that details how a certain COJ entity is undercutting private sector investment by picking and choosing winners/losers. As frustrating as the current process is, the fact is that when the City does try something like this... it hasn't worked out very well.

[MusicMan]

Well I want to disagree.

There are more than enough circumstances where the RFP has failed miserably to seek a different way to dispose of many of these properties.

The COJ owns maybe thousands of props valued at less than $100,000. How are they supposed to dispose of them? An RFP for every vacant lot? Every vacant home, or crumbling commercial building? Where the COJ wants $150,000 but the highest bidder is $15,000?

If we continue on the current path most of these properties will literally disappear into the mist, like Brigadoon........... 

[lowlyplanner]

I kind of agree with MusicMan here...

The skills involved in responding to a City RFP are not the same as those involved in operating a successful restaurant, or building an infill house or apartment buildng, etc.

The RFP process can also make it a lot harder to get financing.

Here's a couple of things I think could help:

1.  Real advertising (i.e. on MLS, Loopnet, and a sign on the property).  Send out press releases for high interest properties. 

2.  Offer a reasonable amount of time to close (e.g. 4 months).  Allow buyers to extend by paying an additional fee.

3.  Accept bids with just a price. 

4.  Rely on the zoning code to ensure that no undesirable uses are put in.  If the City doesn't like the uses currently allowed, change the zoning before putting the property on the market.

5.  Don't put a bunch of conditions on the property after the sale - lenders hate them. 

[Bill Hoff]

Work has begun.

And a (temporary) Strings Sports Brewery sign is hanging.

[Bill Hoff]

Grand opening is June 24th, 11am-11pm.

Looks like a great space and menu, unique among local craft breweries. Should be one of the best places to watch a game in Jax.

[vicupstate]

I know.

But it is not the best way to dispose of properties IMO.  It works in some instances but not in others (I see you Peter Rummell).

The idea that RFP works for every prop the City owns is quite simply, wrong.

The COJ owns so many properties such as vacant lots and abandoned homes/commercial structures that I don't see a way out for them. The fate of those properties is purgatory.

New Idea!!  The City creates it's own Real Estate Brokerage and starts listing all the properties it has For Sale, with the goal of disposing of 2000 properties in 5 years. Start with the least valued props and work your way up. I am pretty certain people would be shocked at how many properties the City owns.

In fact, wasn't a compilation done a few years ago? What happened to the study?

I would simply issue an RFP for any property that the city owns. Publish a complete inventory, as you said, one has already been done. Allow any investor to submit a proposal for any property.  The market will tell you what is desired most. Have a board of professionals evaluate each submissions and score them. Any proposal that scores above a certain number has to be accepted or rejected by a appropriate city council committee for submission to the full council. Properties that get at multiple proposals that score high enough get a separate RPF, but the initial bidders get a bonus point in the evaluation.     

[Captain Zissou]

The COJ owns maybe thousands of props valued at less than $100,000. How are they supposed to dispose of them? An RFP for every vacant lot? Every vacant home, or crumbling commercial building? Where the COJ wants $150,000 but the highest bidder is $15,000?

When JEA cuts its annual payment to the city, they will have to get pretty creative with fundraising, so dispositions would be a good revenue stream for them.  They obviously won't have the same process for a $100k quarter acre lot as the Shipyards.  I imagine it will be like the tax certificate sales.   Publish a list of maybe 2 dozen properties at a time and the date of the auction well in advance and allow potential purchasers to submit a bid including proof of financing and then a committee will review and discuss for a few minutes and pick a winner.  Rinse and repeat once a month or so.  As property values increase, submission criteria and the review process will also increase.

[MusicMan]

Strings Sports Bar officially opened today. It's flat out amazing!  A winner, and  serious addition to the neighborhood.
Congratulations to the owners!!

[Kiva]

I kind of agree with MusicMan here...

The skills involved in responding to a City RFP are not the same as those involved in operating a successful restaurant, or building an infill house or apartment buildng, etc.

The RFP process can also make it a lot harder to get financing.

Here's a couple of things I think could help:

1.  Real advertising (i.e. on MLS, Loopnet, and a sign on the property).  Send out press releases for high interest properties. 

For properties worth less than $100,000, why does the city just not put them on the market without a RFP? They could bring so many vacant lots, abandoned homes etc back onto the property tax roll. This is not complicated. Why do city council member not have common sense?

[Bill Hoff]

Strings Sports Bar officially opened today. It's flat out amazing!  A winner, and  serious addition to the neighborhood.
Congratulations to the owners!!

Yea, it's pretty bad ass. And legit food menu. Soft opening this weekend, grand opening is this Monday, 6/24.