Feb

14

Renovation of T3 apartments on horizon

Posted by : Erik Walsh | On : February 14, 2013

By Erik Walsh
The News Staff

3T apartments in Malakoff could be getting a make-over in the near future.

Property Developer James Fieser petitioned Malakoff City Council last Tuesday for a “commitment of funds” as a good faith gesture to begin an application process that could help Fieser acquire a grant to revitalize the property.

Fieser said that getting the grant is the best chance the apartment complex has to increase its property value—a win for both the owner and city.

Fieser said the “good faith” gesture from the city would only be a temporary loan and is needed to show that Malakoff is invested and behind the project. The $12,550 “good faith” money would be placed in escrow and Fieser would write a check back to the city for the same amount. According to Fieser, the grant T3 is competing for is extremely competitive and only applicants with a city’s backing has a realistic shot at winning.

The council discussed details with Fieser for more than twenty minutes before deciding to table committing funds until speaking with the city attorney. The council said they will call a special meeting to approve or deny the commitment of funds before the nearing deadline.

The discussed renovations that T3 would receive are mostly interior restoration like new carpeting, pluming, cabinets and painting.

In other news, the council announced:

•January 30 was the first day to file an application for a place on the May 11 general elcection. The last day to file an application on the ballot will be March 1 at 5 p.m.

•Mayor Delois Pagitt and Council members Jeanette King and Tim Trimble have filed applications for reelection.

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