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)

Friday, September 17, 2010

Points sent to each City Council member p 5

Attachment A
Here’s the spreadsheet I included in the 4/10 and 7/10 proposal. This is a summary spreadsheet of far more detailed conceptual estimates that I prepared for each phase. A few things about the estimates and summary:
        This is a conceptual estimate, based on the conceptual scope and sketch described. Conceptual means each sub-item is subject to significant change, but taken in aggregate, we should be +/- 10-20% for each phase. If this project were to proceed, the design team would have developed “schematic design” (SD) documents (plans and specifications), then possibly “design development” (DD) documents and finally “construction document” (CD) level drawings. With each step we revisit and finetune an estimate, adding more detail and refining accuracy as we go. Based on scope defined and delivery method proposed, I think this is a pretty good estimate. I’ll remind folks that unlike most of the members of the DDA, I do and/or manage construction estimates on almost a daily basis.
        Estimates include allowances (where I could not come up with a good number), contingencies (design phase and construction phase scope change), design and project management fees (based on reduced rates we proposed to charge), as well as operating costs during each phase (including allowance for property taxes, fees, utilities etc.). These are all encompassing “project cost” numbers. I may have underestimated water tap fees, but most of that is likely covered elsewhere, and would work itself out in the wash.
        Phase 2 includes the cost of real estate purchase at $200k.
        I included a “phase value” for each of the seven phases. This is not out of pocket cost for each phase. Rather, it includes all “funding sources”, including value of pro-bono/ volunteer time, in-kind investments etc. Furthermore, phase value includes more than just associated costs for work done in that phase. Rather, it also includes carrying cost associated for costs incurred in previous phases, and operating costs associated with that window in time. It may not be a purist accountants approach (remember, I’m an engineer, not an accountant), but I thought it was the easiest way to summarize value and cash flow required on one sheet of paper. Note that total “value” over the 3 year window we projected for project completion, total project phase value was about $2.4M. This includes the $200k for purchase price. If you subtract out the pro bono value of $120k and projected lease income of $280k thru 2012, you’re at about $2.0M. Furthermore  subtract about $800k for tax credits and grants, and you’re down to about $1.2M for “investment value” in the property (investment that must be repaid). Note I may still be underestimating tax credits, but may also be overstating grants, but this was my best guess projection based on info that we’d heard from MHPN etc. Investments breaks down into:
o    Venture Capital Investment of $342k – maybe call it $350k. My personal target was to have $400k available. We needed most of that up front to purchase the buildings outright. A hoped for negotiating point

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