The Lake View City Council has approved an agreement with a property developer, who intends to restore an aging building to functionality. Officials voted in favor of accepting a contract with Heath Carroll at a meeting earlier this month. Administrator, Scott Peterson, says Carroll has plans to convert the bottom level of the structure into a retail area and has other plans for the space that is left.
Peterson says both parties will come ahead under the terms of the agreement. The property will be returned to Lake View’s tax base, and the developer receives some financial benefits.
The building has been vacant or underutilized for nearly a decade, so returning it to usable condition could take up to a year. According to Peterson, the contract requires the project to be completed within 12 months of the purchase date. The Lake View City Council plans to monitor the effort as it progresses. They meet next on Monday, Jan. 21 at 7 p.m. in the Lake View Municipal Building.
