Warsaw Redevelopment Commission Monday reviewed an option to lease real estate agreement for the Gatke property in Warsaw.
The Gatke property is at the corner of McKinley and Durbin streets, and is currently vacant.
The building was formerly Gatke Manufacturing, a business where brake pads and products that used asbestos were made, according to City Planner Jeremy Skinner.The commission reviewed the agreement at its March meeting, and requested City Attorney Mike Valentine review the lease agreement.
Valentine included a provision in the agreement that states Aaron Scantlen, owner of Sycamore Tree Investments LLC, Nashville, Tenn., will have 45 days from Monday to sign the option to lease real estate.
The agreement was requested by Scantlen during the commission's Jan. 7 meeting. Scantlen made a proposal at the meeting to use the existing buildings to house professional offices.
He proposed the vacant building be rehabilitated into a banquet facility that could be used to accommodate proms, weddings and concerts. He also proposed there be a coffeehouse and art gallery on the second floor.
Scantlen lives in Nashville and owns a business, Mohawk Designs, and he proposed his business be located in the facility and lease out office space to other businesses.
He said the intent is to retain the existing concrete floors and brick along with the four main structures.
The commission also approved a $4,000 contract between Umbaugh & Associates for monitoring services for tax increment financing.
The services include calculating the base value adjustments for trending and general reassessments, providing tax increment financing replacement levy assistance, monitoring TIF database, actual TIF revenue and estimate future TIF revenue.
Commissioners also approved a $4,840.69 claim to IFA-Brownfields and a $1,273.24 claim for Gatke Property renovations.
Commissioners are Rick Snodgrass, Charles Smith, Tammy Rockey, Savina Kralis and Trish Brown.
