The Mission of Preservation Chelsea

It is our mission to preserve Chelsea as a village rich with history and charm, reflected by historic buildings, surrounding farmlands, and as found in our beautiful and vibrant village center. We aim to work through education, offering to ourselves and the community the history of Chelsea as well as the issues shaping our future. We intend actively to preserve historic landmarks and to have a voice in all issues that affect any possible de-centralization of our village. It is our intention to pursue this mission with full involvement and input from merchants and citizens of Chelsea and to act in ways that make sense for the preservation of Chelsea's charm and historic integrity while supporting a vibrant and successful downtown.

Federal Screw Works

Federal Screw Works
This property has been under threat of total demolition since 2008--there are historically signficant and architecturally interesting sections that should be preserved!

Jackson Street Panorama

Jackson Street Panorama
The DDA voted at the meeting on 9.20.12 to demolish the Daniels Addition Car Showroom despite the letter from the State Historic Preservation Office. (please read below)

Saturday, August 7, 2010

Updated Response, p 15

proposal. PC-CCT/TCC members recognize it will be more difficult to garner community support for a for-profit venture.
PC-CCT has reviewed dozens of Grants for the rehabilitation of the site, and has narrowed potential grant proposals to approximately 30 sources, primarily from preservation sources. PC-CCT/ TCC, LLC will further broaden the search in weeks to come to include environmental redevelopment, sustainable development, job growth, and arts and cultural development sources. Based on recent discussion with adaptive reuse experts, we feel we underestimated grant potential in our 2-18-10 submission. Furthermore, grant writing cannot move forward until the DDA has made a commitment to sell the complex to TCC. PC-CCT/TCC has engaged the services of several students in EMU’s preservation program, who are learning to write effective grant proposals. They are ready to ramp up their efforts as soon as a sales agreement is executed. Grant writing and the application process takes time. TCC therefore does not count heavily on grants during initial phases of renovation. In total, we feel grants can account for as much as 20% of construction related expenses.
PC-CCT has investigated Tax Credits (members attended previously referenced workshop and additional workshops at the Michigan Historic Preservation Network Conference) for rehabilitation and will leverage this resource toward the redevelopment as well. Based on information received to date, TCC, LLC includes substantial tax credits allowances to the funding for the project. While there is a possibility that tax credits could be as high as 40% for some portions of the project, we have used a maximum of 20% for construction phases.
PC-CCT and/or TCC, LLC will organize some Fundraisers during the course of the redevelopment, targeted specifically for the installation of the 4000 SF green roof that will surround the Livery Apartment patio. While the installation would be difficult to financially justify as part of the Apartment development, the design team continues to view this as a priority for the project, and will foster community support to make the vision a reality. The patio space will be fully functional, regardless of whether the green roof is installed.
Lease Income is a significant factor in the overall project value through the end of renovations and operations through the end of 2013. However, lease income is a relatively small percentage (8% maximum) until Phase 5 (Loose Ends and Green Roof), where it accounts for 36% of that phase’s value.
Proposed Project Value Funding Source Summary below demonstrates projected contribution split between the eight projected value contribution sources for the redevelopment of The Chelsea Connection, including operations through the end of 2013. Projections are based on project phase scope as described in Additional Information – Schedule and Phasing, and costs as summarized in Phasing Summary of Timeline, Funding, Debt and Value in Supporting Information Appendix.
Note, the funding model was developed anticipating 4-15-10 approval by the DDA, and that closing would occur before any construction would occur. Proposed interim lease agreement between the DDA

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