At its regular meeting in October, the Vestavia Hills City Council accepted an offer from Commercial Realty Partners, LLC, for potential retail use of the former Vestavia Hills Public Library building, which is located at 1112 Montgomery Highway.
“Within the first 90 days, the buyer has to be identified,” City Manager Jeff Downes said. “We have the right to approve the retailer, and 180 days is the maximum the building can be held off the market.”
During the 90-day due diligence period, the potential retailer will evaluate the property. The building is approximately 22,000 square feet and located on an estimated 1.66 acres of property owned by the City. Last year, the building was appraised at $825,000 while the current retail offer is $750,000.
“Retail use of this building would produce sales tax dollars for the community,” Downes said.
In 2009, following the City’s termination of a lease agreement for library services, the property was appraised at $1.5 million. In 2011 the City entered into a contract to sell the building for $800,000 to M&P Properties, LLC, provided that the company could provide a retail tenant. When M&P was not successful, the contract was terminated.
In September 2012, HES Investments, LLC, offered to purchase the property for $800,000 but was also unable to provide a suitable tenant. Based on these three offers, Vestavia Hills City Attorney Patrick Boone approximated the building’s current market value is $767,000.
In other negotiations, the City is looking to relocate the current City Hall at 513 Montgomery Highway to the former Food World location directly off of U.S. 31. However, that deal has not been finalized. Chick-fil-A has expressed strong interest in purchasing the current property, but Councilman George Pierce said the company’s period of due diligence has not yet started.
“We are in constant contact with Chick-fil-A,” Pierce said. “We are still looking at the Food World location and are waiting until we sign that paperwork before we move forward with selling the property.”
Below are additional items addressed by the Council since the previous publication of Vestavia Voice.
- Authorized entering into an agreement with Goodwyn, Mills, Cawood, Inc. for planning and design services for undeveloped portions of Patchwork Farms at a cost not to exceed $28,000.
- Accepted a check from the Parks and Recreation Department for $220,000, the first from its $3 million fundraising campaign to expand park facilities (See next page).
- Established a training program for collision avoidance through the Vestavia Hills Police Department.
- Explored building a formal relationship with Retail Strategies, a Birmingham-based company that could recruit potential retailers and developers to open businesses in the Vestavia Hills area.
Declared Sept. 20 as Coach Buddy Anderson Day to celebrate the Vestavia Hills High School football coach’s 300th win.
