Rehab Project Involving Historic Rochester Building May Begin Soon
Rochester, MN (KROC AM News) - Work could begin soon on a renovation project involving one of downtown Rochester’s oldest commercial buildings.
The Rochester City Council is scheduled to vote Monday on a recommendation to approve a development assistance agreement with the owners of the Conley-Maass building, located on 4th St SW between Broadway and 1st Ave.
The agreement would provide the owners with $400,000 in tax increment financing assistance.
The estimated cost of the project has been placed at $2.75 million. The owners - Hunter and Traci Downs - are also seeking $475,000 through a historic rehabilitation tax credit, which would be a first for an Olmsted County property.
Some small firms are expected to become tenants of the building, along with a restaurant.
The owners hope most of the construction work can be completed by late May or early June.