The preliminary property appraisals are in for Terrace Plaza and the Burger King parcel. Trigg, Catlett & Associates have appraised Terrace Plaza for $5,860,000.00 and Burger King for $800,000.00. Lee Pallardy Inc. has appraised Terrace Plaza for $6,008,000.00 and Burger King for $950,000.00. Appraisals for Regions Bank, Chevron Station and Beacon Plaza are forthcoming.
The previous property appraisal for Terrace Plaza in 2001 was about $5,530,000.00 and the City of Temple Terrace made an offer to offer to buy that property in 2002 for $6,500,000.00, this offer was declined by the property owner.
With the fresh appraisals, City of Temple Terrace Community Redevelopment Director R. Matthew Shannon (Downtown Revitalization Project Manager) will continue negotiating with the property owners in the hope of avoiding an Eminent Domain scenario which could be costly and time consuming.
The Town Planner Selection Committee has been selected by City Staff and confirmed by the City Council. It consists of seven categories of individuals from the community that will provide a broad range of expertise and knowledge. The seven on the committee include: Mike Callahan, executive planner with Hillsborough County’s Planning and Growth Management Department; Ray Chiaramonte, Assistant Executive Director of the Hillsborough County City-County Planning Commission; Dr. Patrick Finelli, Temple Terrace resident, University of South Florida Professor and Chairman of the City’s Strategic Teamwork and Redevelopment (STAR) Citizens Advisory Committee for the Downtown Revitalization; Robert Kramer, Co-Developer of Haile Village Center, a Town Center in Gainesville, Florida; Jeanne O’Neil, Temple Terrace resident, STAR committee member, and one of the first proponents of our City’s current Downtown Revitalization direction; Manny Pumariega, Executive Director of the Tampa Bay Regional Planning Council; and Robert Wolf, Senior Vice President of Hillsborough Community College.
At their May 19th meeting Strategic Teamwork and Redevelopment (STAR), the Citizens Advisory Committee for the Downtown Revitalization, made a recommendation that the City Council consider appraisals for the TTRA (Temple Terrace Revitalization Authority) property south of Chicago Avenue to the Hillsborough River, as well as the Doral Oaks apartment complex. I
f the City of Temple Terrace can assemble the largest possible land parcel within the TTRA district now, the more appealing our Downtown Revitalization project will be for the best planners and developers.