The old unused bank building in downtown Parkville will soon have a new look and purpose.
The Parkville Board of Aldermen approved the addition of the former Bank Liberty located at 12 East First Street into the Downtown Parkville Redevelopment Plan, allowing tax abatement for the project. In 2019, the city established the plan, designating downtown as a blighted area and paving the way for economic development incentives.
The applicants, Leon and Heather Versfeld, submitted an application late last year for a minor site plan for the, which was approved by aldermen on
Dec. 20, 2022. The applicant proposes repurposing the existing building into a restaurant, utilizing the existing drive-thru window for coffee and marketplace pre-prepared grab and go items and adding a second-story addition for office and balcony space. The current building height is one story and following rehabilitation of the entirety of the building, the building height will be two stories.
Work to be conducted as part of the rehabilitation and expansion includes demolition, structural framing, floor leveling, new doors, windows/glass, roofing, electrical work, plumbing, HVAC, interior walls, lighting fixtures, new flooring, interior painting and new cabinets. The total estimated cost of the applicable improvements is $3-3.5 million. This Redevelopment Project qualifies for incentives of 90 percent property tax abatement for up to 15 years.
Also at the meeting, the board approved a three percent sewer rate increase expected to raise nearly $50,000 in additional revenue to meet budgeted expenditure levels and to continue maintenance and repair work. Environmental regulations have become more and more stringent over the past few decades, the costs of treating waste water to required levels have risen substantially.
Sewer rates are calculated based on the average water usage per household during the winter months. Water usage for the months of December, January, and February is used to calculate the actual flow into the sewer system. The residents can control their monthly bills by conserving water.
The average sewer customer will pay an additional $1.73 per month with the three percent increase.