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e e ~ Minutes - Plan Commission Page 4 July 23, 1986 Chairman Hamilton asked if Plan Commission members had any questions of Mr. Gantz or Dr. Dodge. Ms. Schuman questioned the extent of deterioration of the building and noted that there was some disagreement about the suitability of the building for residential or office rehabilitation. Mr. Gantz responded that the Hanley building would be a typical rehab situation. The building had only been vacant for five years and the shell of concrete and masonry was in good condition. Also, the site was large enough for some new construction for additional residential or office use. Mr. Kennedy asked Dr. Dodge if the School District sold the Hanley building for one million dollars, would it recover its costs? Dr. Dodge replied that the School District would realize a profit on such an amount. Mr. Kennedy and Mr. Gantz discussed the various estimates on rehabilitation of the building for residential use which would allegedly lower any realistic bid to purchase the property. Ms. Schuman asked if the School Board had been advised of an estimated cost for corporate/office rehabiliation. Dr. Dodge replied that it had not been so advised. Chairman Hamilton posed a question regarding the School District's efforts to market the property. Mr. Gantz suggested that the School Board apply to the City's Industrial Development Authority (IDA) for a grant in order to hire a consultant to study the property's marketability and to define the feasible uses of the building and extent of potential new construction on the site. Mr. McCauley endorsed this recommendation and emphasized that marketing the Hanley property with the landmark restrictions would give potential developers a clear understanding of the City's planning perspective and goals for use of the property. Ms. Cook agreed that the City's long-range planning decisions included responsibility to consider recommendations regarding the use of sites with historic significance. She further stated that the Historic Preservation and Plan Commissions should consider potential reuse of all three buildings under consideration for designation. Ms. Lisa Van Amburg, Chairperson of the Historic Preservation Commission, stated that, according to the Historic Preservation Ordinance, the Plan Commission must make a recommendation to the City Council on the Application within sixty days of its receipt. After further discussion, Chairman Hamilton called for a motion on this agenda item. Mr. McCauley moved that the Plan Commission recommend approval of the Historic Preservation Commission's Application for Designation of the University City Education District as a Local Historic District. Ms. Cook seconded the motion. Chairman Hamilton called for discussion on Mr. McCauley's motion. Mr. Kennedy expressed his concern regarding the landmark standards, as he believed that the standards would limit the financial gain that the School District could realize from the sale of the Hanley Building. Mr. Washington expressed his concern over the number of closings and disuse of historic buildings in the St. Louis area. He endorsed the suggestion that an independent body study the feasible uses of the Hanley site with regard to the proposed landmark standards. Mr. Rice stated that the City's action in