[Evergrey]

this sounds like an interesting and exciting project for SC... I quite like Michael Freeman's comments near the end of the article... and totally agree with them...

however... I must admit dismay over the prospect of the former Crowbar meeting the wrecking ball (now known as Cell Block)... I don't know what it's like now that it's Cell Block... and to be honest... it never reached its potential as a live music venue as Crowbar (Velveeta again yay)... but it served a niche as being the only medium-sized club where national acts could play downtown... and Sharkie's... I have a lot of memories from that smokey billiards dump



Luxury hotel planned
Redevelopment vision praised by borough planners
By Adam Smeltz
asmeltz@centredaily.com

STATE COLLEGE -- It would be a College Avenue landmark: a nine-story building with a boutique-style hotel, rooftop gardens and owner-occupied condominiums.

An upscale restaurant would fill the top floor, retail space and an open-air pedestrian mall would be at the street level, and a basement parking garage would accommodate many dozens of cars.

The concept plan, introduced to the borough Planning Commission this week, is a redevelopment vision for the 400 block of East College Avenue.

"It's exactly what our downtown needs," commission Vice Chairman Charles Gable said Friday. "It's a very, very innovative, progressive, forward-thinking design."

He and other commission members had abundant praise for the idea, presented Thursday by landlord Herlocher Properties.

Charles C. Herlocher, a longtime borough businessman, owns the land and the existing buildings, some of which would be leveled to make way for the project.

The new structure would be among the taller buildings in town. It would be bounded by the existing Greenwich Court complex to the west, Sowers Street to the east, East Calder Way to the south and East College Avenue to the north.

Two current landmarks -- a McLanahan's store and Baby's restaurant on Garner Street -- would be untouched.

But about a half-dozen other businesses, including the Cell Block nightclub and the Herlocher-owned Sharkies Bar, operate in buildings that appear to be in the path of the new project.

A lease for the Cell Block started in September and runs for three years, General Manager Joe Yamma said. He said it was too soon to say if the club may move.

An effort to reach Herlocher Properties on Friday was not immediately successful.

Ed Olsen, a Bellefonte architect working on the plans, said the new project is probably a couple years away. If the plans gain borough approval, he said, the building may be complete by 2010 or 2011.

Olsen said a goal is to revitalize the eastern end of the downtown and broaden its appeal to reach non-student demographics.

"We'd like to bring more (mature) activities down that way, which would help all of the businesses," he said.

A building design shows that upper floors would be set back from College Avenue to create a sense of openness, according to people familiar with the plans.

Olsen said the second through eighth floors could hold as many as 150 hotel rooms and some owner-occupied residences.

He said the planners are weighing whether to seek certification in Leadership in Energy and Environmental Design for the whole building.

"I think the intent of the Herlochers is to do a very high-quality facility that does include many of these LEED items, such as roof gardens," Olsen said. He said plans show about 10,000 square feet of roof gardens and patios on upper levels.

There may be, however, at least one stumbling point.

Current zoning on that block would not allow a project of the scale envisioned by the Herlocher group.

If the project is to materialize, the Borough Council will first need to add that area to a commercial-incentive district.

The commercial-incentive district, approved in 2005, already covers about 10 square blocks downtown. Borough rules allow taller buildings in the district if those structures include environment-friendly designs, underground parking or other special features.

Several Planning Commission members, in interviews Friday, sounded likely to endorse the Herlocher project.

"It has a lot of positives going for it," member Evan Myers said, "because it brings people downtown who are going to spend some money, who are going to add to the flavor of the town."

Borough leaders, faced with near-stagnant tax-revenue projections, have been trying to draw more business and owner-occupied housing into town. Fraser Centre, a complex planned for South Fraser Street, is one example.

The Downtown Improvement District is instrumental in that endeavor. Its director, Teresa Sparacino, said the district also supports the Herlocher idea.

Michael Freeman, a Planning Commission member, said the concept is a heartening change from "the mediocre (development) that's been happening for decades."

He applauded "large, towering buildings that provide urban views and views of the surrounding mountains."

"The suburbs can't compete with that," Freeman said.

Adam Smeltz can be reached at 231-4631.

[Evergrey]

Michael Freeman, a Planning Commission member, said the concept is a heartening change from "the mediocre (development) that's been happening for decades."

He applauded "large, towering buildings that provide urban views and views of the surrounding mountains."

"The suburbs can't compete with that," Freeman said.


Yes, exactly! State College has SO MUCH potential with the university and its breathtaking natural setting and its wonderful tight grid of walkable streets... it's a tragedy that Greater SC has squandered the last few decades on an orgy of MEDIOCRE residential and commercial sprawl...



in other SC tidbits... Graham's on Allen (Ben and Jerry's) is closing... which is sad and suprising...

and SC is getting its 3rd stand-alone Starbucks in a new retail/housing development at 141 Garner... yay Starbucks

I've spent a month where I haven't left the city limits of Pittsburgh... but I gotta admit... I can't wait to see olde State again sometime soon

[Wheelingman04]

State College does have a nice core. For all of its failings, Pennsylvania is still my favorite state overall.

[Ex-Ithacan]

Wow, this is amazing news for downtown SC. It will put a bit of umph into that part of downtown. Thanks for the info Eg.

[LostInTheZone]

The Cell Block is just another frat hangout now- Players with a little less class (sarcasm intended). It's already dead to me.

[giovanni sasso]

in other SC tidbits... Graham's on Allen (Ben and Jerry's) is closing... which is sad and suprising...


I've spent a month where I haven't left the city limits of Pittsburgh... but I gotta admit... I can't wait to see olde State again sometime soon


wait, WHAT? please elaborate.

state college as a whole is nearly dead to me. i can only imagine how ex-ithacan feels because the state that i grew up with in the early and mid 90s is pretty much gone. arboria, cc peppers, crowbar, state theatre (though i realize it's reincarnating soon if not already), pennsylvania pizza, mike's music on calder way, the original creamery ... all gone.

the diner and the tavern are never going to close, at least, but damn. it was the parts that made up the sum i so loved.

BUT. if crowbar is gone and replaced by yet another case de douchbaggery, i wouldn't mind at all seeing tall hotel take its place at the heart of college ave.

[Ex-Ithacan]

^ Kind of makes one wax nostalgic, don't it?

[Evergrey]

Pennsylvania Pizza? Now that was the worst pizza I've ever tasted. There was a very good reason why a large cost $4. I think they relocated to W. Beaver when Hooters entered downtown... but I suppose they closed since then?


I don't care for the new creamery... it only moved a block away... but it's no longer in the heart of campus

Mike's on Calder still rents movies... but none of the Mike's locations sell music anymore... and Mike's South closed completely a couple years ago... it's just amazing to me that the "quintessential college town" is down to one (rather weak IMO) record store... City Lights. Arboria had the vinyl... but Mike's was always my favorite... their selection seemed to be improving as time went on... great mix of popular and more eclectic genres.

I don't have any more info on Graham's... I think there was a small mention on it in the CDT

In other news... my favorite SC restaurant, Herwig's (Austrian Home Cooking), ditched its cramped (intimate) location in an alleyway next to Fraser St. Garage in favor of a spacious front (former Mio Zio's) on College... totally lost its character.

[Evergrey]

http://www.centredaily.com/116/story/21015.html

Commercial incentive expansions mulled

By Adam Smeltz - asmeltz@centredaily.com


STATE COLLEGE -- It's been 15 months since the Borough Council loosened zoning rules for about 10 square blocks downtown.

The idea then was to create a new commercial incentive district, an area from South Garner Street almost to Barnard Street where developers could build bigger, taller buildings.

But now, with only one major new project having been proposed in the commercial incentive district, the council is weighing whether to expand the district eastward.

The expansion, discussed by the borough Planning Commission, would be "to encourage more redevelopment opportunities," Planning Director Carl Hess said after a council session Tuesday night.

Charles C. Herlocher has already proposed a redevelopment project that would bring a nine-story complex and restaurant to the 400 block of East College Avenue, at the Sowers Street intersection. His concept would be feasible only if the council extends the incentive district into that area, architect Ed Olsen has said.

The Planning Commission has suggested that the borough needs to recalibrate its thinking for the eastern end of the downtown.

Among other suggestions, it has said that the council might consider making East Calder Way more friendly to pedestrians and bicyclists.

Council members on Tuesday appeared mostly agreeable to expanding commercial incentives in the downtown's eastern reaches, perhaps as far as Hetzel Street.

Height limits in the commercial incentive district can grow from 65 to 95 feet for developers who incorporate special features, such as environmentally-friendly building designs and underground parking.

But several members emphasized that height limits of 45 feet should remain in place along College Avenue west of Garner Street. Councilman Don Hahn said Penn State alumni consider that downtown area -- west of Garner -- to be a core.

"I think tourism is an extremely important factor here," Hahn said, warning against a loss of ambience.

The commercial incentive district efforts in 2005 called for much of College Avenue and South Allen Street to be capped at current height limits.

Borough Manager Tom Fountaine said the administration is hoping to have a formal incentive district proposal before the council by June. Planning commissioners are expected to work on a draft in the coming weeks.

http://media.centredaily.com/smedia/2007/02/20/18/363-832-college_ave.standalone.prod_affiliate.42.jpg

[ColDayMan]

It's trash.

[phillyskyline]

When I visited last Halloween there was a dearth of nice places to stay, I would welcome a luxury Hotel in town. If you look on priceline, there is not one hotel rated higher than 2 1/2 stars.

[LostInTheZone]

It's trash.

most of the built environment of downtown state college is worse trash. This is an improvement. Criticism of the appearance aside, it's urban- I like the mid-block passage- and downtown does need more hotels.

[ColDayMan]

What hotels does downtown State College currently have? (Please don't say Ramada).

[Evergrey]

I think the Atherton Hotel... which I believe LITZ lives next to... is the most upscale. Amazingly, there still exists one of those trashy 1960s era motels right across the street from the Atherton. I'm not sure where the Ramada is... but there is the university-operated Nittany Lion Inn, Days Inn... and there's that small motel next to Faccia Luna on S. Atherton ... that's still "in town"... and I can't think of any more... can you, LITZ? This is the first time I've realized that 95% of State College lodging is in the suburban wastelands... some of it is actually pretty close to downtown... but not really walkable... sidewalks do lead to some of the North Atherton hotels... but it's kind of unpleasant to walk along that highway. For a town as downtown-centric (for visitors) as State College...with all those places to get drunk... you'd think there'd be more downtown lodging.

[Evergrey]

most of the built environment of downtown state college is worse trash. This is an improvement. Criticism of the appearance aside, it's urban- I like the mid-block passage- and downtown does need more hotels.

Is that a revolving restaurant on top of the structure?

And Greenwich Plaza!? Why does every new development have to have a name like that? Why not Warszawa Pointe?

[architorture]

i can't believe ben and jerry's is closing- where is everyone going to get ice cream and porn now?

maybe the creamery will start selling magazines in brown bags...

as for the crowbar- i won't miss it- they did have a couple of good bands there while i was in school but nothing too amazing.

sharkies though- $1 beers on thursdays- excellent

[LostInTheZone]

That Ben & Jerry's sold Gauloises for two years after they officially stopped being available in this country. This town continues to get more lame.

[Ex-Ithacan]

SC hasn't been the same since Mr C's closed.

[themaguffin]

state college as a whole is nearly dead to me. i can only imagine how ex-ithacan feels because the state that i grew up with in the early and mid 90s is pretty much gone. arboria, cc peppers, crowbar

I was only in State College a couple times with some college friends (from that area), back in the mid 90s. We saw Sideshow Bob, who would end up having regular appearances at Nick's in Pittsburgh. I believe that we saw them in State College at the Crowbar...?

So what has replaced these places? It's typical for bars to change hands and names... are they just sitting empty? It's to believe that a college town with such a large student population would have many closings....

[mrnyc]

Is that a revolving restaurant on top of the structure?

And Greenwich Plaza!? Why does every new development have to have a name like that? Why not Warszawa Pointe?

^ because that would be a more appropriate name for something on cleveland's southside not sc!

glad to hear about the new hotel, they could sure use more hotels in sc - we stopped off for fun, but couldnt get a room on a couple occasions of trying. i think it was parents week one time, but are they generally short on hotel space?

[SuperstarMark]

Agreed, good news for SC

[Evergrey]

Downtown State College is getting a 12-story condo tower!!!!!

The borough has decided that building vertically is the key to future growth... the borough is locked into a tiny land area without room for development... 3/4s of the population is college students who contribute almost nothing in taxable income to the borough... probably half or more of the borough's property value is tax-exempt due to Penn State University... building residential towers in that very urban downtown targeting professionals is a good way to increase the permenant population and generate more revenue for the borough

http://www.centredaily.com/116/story/70920.html

Land transfer deal advances Fraser Centre

By Adam Smeltz - asmeltz@centredaily.com

STATE COLLEGE -- The Borough Council moved Fraser Centre one step closer to fruition Monday night, approving a $3.27 million land-transfer agreement.

That agreement, approved in a 5-1 vote, will convey property at South Fraser Street and West Beaver Avenue from borough ownership to the Downtown Improvement District.

The DID, in turn, is expected to sell the land to a real estate developer for construction of a 12-story tower and a 10-screen movie cinema.

The site, now home to a former municipal building and the empty Medical Arts Building, is bounded by Miller Alley, West Beaver Avenue, West Calder Way and South Fraser Street.

Borough Council President Cathy Dauler, a member of the DID board, abstained from the land transfer vote. Supporters of the project, in the works for several years, said the plan will help bring more amenities and business into town.

"We want to get more residents -- not just of the borough, but of the Centre Region -- to the downtown," Councilman Tom Daubert said.

He and other sources said several cinema operators have expressed interest in running the 10-screen cinema. "Once it gets built, I see no way this can go bad," Daubert said.

One projection estimated that Fraser Centre could bear more than $10 million a year for the downtown economy.

York-based Susquehanna Real Estate, a developer, is handling the overall project. It's slated to include 54 owner-occupied condominiums, two levels of commercial space and an underground parking garage.

The effort also will help boost the borough tax base, supporters said. An estimate suggests that the redevelopment project will increase the property's assessed value by $10.9 million.

Councilwoman Elizabeth Goreham, who voted for the land transfer, said the concept should "generate energy and vitality we need" in the downtown.

Still, the $40 million project has endured criticism for its partial reliance on state support. Borough officials and downtown advocates have sought as much as $6 million in state money to help finance the endeavor, though Daubert has said $2 million or $3 million would be sufficient.

Councilman Don Hahn cast the sole dissenting vote Monday on the land transfer. He aired worries about restrictive language in the agreement, which requires -- among other stipulations -- that the condominiums not be used as student housing.

Hahn also suggested that the borough could have gotten a better price for the property. He said an "absence of competition, especially from local developers" troubled him.

After the meeting, DID leader Dolores Taricani defended the process and said the property was appraised fairly.

Taricani, vice president of the DID board, said that site analyses are well under way and that demolition could begin within weeks.

Goreham, in an interview, said that no local developers were willing to take on the project. She called Susquehanna a wonderful partner.

The agreement approved Monday suggests that construction is likely to begin sometime this year. Work could run as long as two years.

Also Monday, Mayor Bill Welch opened the council meeting with a moment of silence to recognize the shootings at Virginia Tech. Welch expressed "profound sympathy and sorrow" for that university community, in Blacksburg, Va.

At least 33 people were reported dead there Monday.

Adam Smeltz can be reached at 231-4631.



...



Fraser Centre even has a website: http://www.frasercentre.com/index.html

The renderings are AWESOME

http://www.frasercentre.com/frasermain.jpg

Fraser Centre is located in downtown State College, PA on the 100 block of South Fraser Street, extending from Beaver Avenue to Calder Way

Features of this mixed-use commercial, office and residential property include:

21,733 square feet of retail and office space
57,800 square foot, two-level multiplex theater with 10 screens and an elaborate two story lobby and plaza
54 market rate condominiums
Parking garage with 112 parking spaces

http://www.frasercentre.com/aboutcollage.jpg

http://www.frasercentre.com/frasermap.jpg

[Evergrey]

uh-oh

http://www.centredaily.com/116/story/76451.html

Fraser Centre funding hits snag

By Adam Smeltz - asmeltz@centredaily.com


STATE COLLEGE -- Faced with a shortfall in hoped-for state money, organizers of Fraser Centre project are looking to another government option for help.

The option, called tax-increment financing, temporarily would redirect a portion of the new real estate tax revenue generated by the downtown property.

That money, instead of reaching government coffers, would go toward debt payments on the complex.

Without help from tax-increment financing, construction of Fraser Centre will not be possible, downtown leaders told the Centre Daily Times editorial board last week.

"It is truly at a standstill until this issue is decided," Teresa Sparacino, the Downtown Improvement District executive director, said later.

The DID, financed by downtown businesses, has worked with the borough government for several years to bring Fraser Centre to fruition. Plans include a 12-story tower with upscale condominiums and retail space, plus a 10-screen movie cinema, all along the 100 block of South Fraser Street.

Organizers have promoted the concept as a means of diversifying the downtown and boosting its economy.

It also would bear a significant increase in tax revenue for the Centre County government, the State College Area School District and the borough itself, which has tried to secure and improve its tax base.

"The bottom line is, if we don't have a project like this, what is going to happen in downtown State College other than student apartments, student T-shirt stores, student bars?" said David Lee, the DID board chairman.

Fraser Centre development costs are projected at $40 million, a figure inflated by complications associated with building in an urban area, organizers have said. They have sought as much as $6 million in support from the state government.

And while a portion of that money is still expected to materialize, Sparacino said, downtown organizers no longer think it will reach their budgeted figures.

As a result, they are looking to finance $2 million to $2.5 million of Fraser Centre's debt via tax-increment financing, she said. DID leaders plan to talk with the Borough Council and the county commissioners in the next several weeks and hope to have final answers by July, they said.

The school board is expected to discuss the idea at a meeting tonight. Under law, tax-increment financing can move forward only if the taxing bodies approve it.

It's also up to the taxing bodies to decide how much tax revenue from the property should be committed to debt service and during what period of time.

Dennis Younkin, business administrator for the school district, said the concept is good for the community, especially in this case.

"We would be taking some tax-exempt property and getting it back on the tax rolls," Younkin said.

The property, now occupied by the vacated Medical Arts Building and the former borough municipal building, has been owned by the borough and exempted from property taxes. Its assessed value, however, is $1.3 million.

After the Fraser Centre construction, its assessed value would be $10.96 million, according to DID figures. Under private ownership, the complex would generate at least $584,000 a year in local real estate tax revenue, projections show.

"If the project doesn't go through, (governments) are not going to have that revenue, anyway," Sparacino said.

Dolores Taricani, vice president of the DID board, said that the approach "is not tax abatement for rich people buying condos."

Rather, she and other DID leaders said, it can be a regional tool that encourages construction of "what the community is looking for," not necessarily what's easiest for developers to build.

Tax-increment financing could help promote other downtown redevelopment and affordable housing in the Centre Region, Sparacino said.

The concept originated in California and has been an option for Pennsylvania municipalities since 1990. While some areas have claimed major economic success with the approach, critics sometimes question whether the financial benefits are used appropriately, according to press reports elsewhere.

So far, early responses among elected officials here appear to be upbeat. Borough Council President Cathy Dauler said she's receptive to the idea.

Chris Exarchos, county commissioner chairman, said that "I don't see where I would have a problem doing this."

"I think, on the face of it, it's certainly a good economic-development tool," Exarchos said. "I think the critical component is that all the taxing bodies be in agreement."

Adam Smeltz can be reached at 231-4631.

[Evergrey]

http://www.centredaily.com/116/story/82877.html

TIF tax break tough to sell

Officials yet to rule on measure

By Adam Smeltz and Dena Pauling - Centre Daily Times

STATE COLLEGE -- A funding mechanism that may decide the fate of Fraser Centre can be a tough sell to elected officials, a couple of finance experts said last week.

The mechanism, known as tax-increment financing, would allow a portion of the new property tax revenue generated by Fraser Centre to help pay for the planned project.

Available in Pennsylvania since 1990, the TIF option has been used for redevelopment in and around Pittsburgh and Philadelphia. But it hasn't gained much widespread use in other parts of the state, experts said.

One reason, according to Kathy Clupper, sits with school boards. They can find it difficult to justify foregoing any incremental increase in tax revenue, she said.

That's because school boards, unlike municipal or county-level officials, may not see economic development as a part of their mission.

"In and of itself, (TIF) is not a bad or a good idea," said Clupper, the managing director of Public Financial Management in Philadelphia. " ... If the project is really important to the community, maybe they (taxing bodies) would be willing to do it."

The Downtown State College Improvement District, which is orchestrating the Fraser Centre project in cooperation with borough leaders, announced this month that tax-increment financing will be necessary to make the endeavor succeed.

DID leaders are looking to finance $2 million to $2.5 million through TIF, Executive Director Teresa Sparacino said. The total costs for the 12-story residential and commercial complex, to include a 10-screen cinema, are projected at $40 million.

It would sit at the northwest corner of West Beaver Avenue and South Fraser Street. Annual property tax revenue from the redeveloped site would balloon to at least $584,000, according to projections provided by the DID.

Sparacino said the support provided through TIF would go toward public spaces in the complex -- such as the escalators and elevators that make urban redevelopment especially expensive -- and not the cinema or the upscale condominiums.

The DID, she said, wants to make the complex a social-gathering place, not just a movie cinema. While the condominiums there would be privately owned, the cinema and public spaces would be jointly owned by the DID and a private developer, Sparacino said.

Project supporters have said the plan is a necessity to strengthen the tax base and diversify the downtown economy.

But it'll be up to three taxing bodies -- the Centre County commissioners, the Borough Council and the State College Area school board -- to decide if they want to approve TIF for the project.

Each entity will vote on the proposal separately. Each entity, if it decides to adopt the idea, will need to decide the rate at which new tax revenue from Fraser Centre should be diverted to debt service.

Once the debt is retired, the full revenue streams would return to tax coffers.

A formal presentation for the county commissioners is scheduled for May 8. The Borough Council is expected to take up the subject next month, too, and the school board held a preliminary discussion last week.

"If there are any options that can help us keep our downtown vital in the long run (and) don't hurt our school district's finances, I think we should look at it," board member Lou Ann Evans said Sunday.

Still, she said, she would like to see more specifics about Fraser Centre before making any commitment.

"I don't think any of us feels that we have enough information at this point to say that it is or isn't something that we would like to do," board member Donna Queeney said.

David Seltzer, a principal at Mercator Advisors in Philadelphia, said he doesn't think TIF has been used enough in Pennsylvania to generate much public opinion here.

A key question in any TIF proposal is whether the planned development, and the added tax revenue, would occur "absent the use of the TIF."

The DID leadership has said the TIF is essential for Fraser Centre, owing to a shortfall in hoped-for state development money.

But Andrew Sicree, a Republican candidate for county commissioner, said the TIF idea doesn't sit well with him.

"It's an elaborate way of saying, 'We're giving you guys a tax break,' " Sicree said. " ... The very fact that the businessmen involved say they can't do what they want to do without the tax breaks shows that, in some sense, what they're doing is uneconomic."

Relatively new cinemas in Patton and College townships received no tax breaks, he said.

Still, some downtown advocates have contended that suburban sprawl does benefit from taxpayer-funded infrastructure such as new roads and utility lines. Government help for Fraser Centre would help to level the playing field, they have said.

"If the project doesn't go through, (governments) are not going to have that revenue, anyway," Sparacino said earlier.

Adam Smeltz can be reached at 231-4631. Dena Pauling can be reached at 231-4619.

[Evergrey]

http://www.centredaily.com/116/story/91029.html

Leaders welcome Fraser Centre tax plan

By Anne Danahy - adanahy@centredaily.com
BELLEFONTE -- Centre County commissioners gave a warm reception to a proposal to direct a slice of the property taxes generated by a planned downtown State College project back into paying for the building.

"I think it's a good idea if it's used selectively," Commissioner John Saylor said during a news conference after Tuesday's commissioners meeting.

State College's Downtown Improvement District wants to use what's known as tax increment financing to help pay for a $38 million building that will include condominiums, a movie theater and lobby. The proposal has to get approval from the county, the State College Area School District and the borough.

DID Executive Director Teresa Sparacino said the financing would be used to pay for $2.5 million of the project and would only be directed to public parts of the building, including lobbies and escalators. She said a redevelopment authority would issue a bond for that amount, and 40 percent of new taxes generated from the project would be used to pay off that bond. Without the tax increment financing, she said, the South Fraser Street project cannot happen.

The financing is not a tax break, Sparacino said, and the project will actually result in higher tax revenues for the county.

"Taxes are paid by the developers and property owners at the full rate during the life of the project," she said.

The project has been the subject of criticism from some, including candidates running in the primary for county commissioner, who have characterized it as a tax break that will benefit the condominium and movie theater project.

In her presentation to commissioners, Sparacino offered an alternate scenario of what could happen to the site if the Fraser Centre doesn't get built, and the tax revenue implications.

A new student apartment building on Garner Street paid nearly $27,000 in annual county taxes. The Fraser Centre project would pay an estimated $81,000, with about $29,000 of that directed to the financing bond.

That would leave $52,000 in county taxes.

"So you see the huge difference in the amount of taxes that can be generated through this project," Sparacino said.

Board of Commissioners Chairman Chris Exarchos pointed out during the presentation that the property has been owned by the borough and is tax exempt.

The project would change that and make it taxable.

The commissioners appointed Saylor, county Finance Director Denise Elbell and Chief Assessor Mark Kellerman to a joint committee that will establish guidelines for using tax increment financing. All taxing bodies will have to vote on approving the financing. Sparacino said she would like to have an answer by July 1.

Saylor said any incentive to help downtown developers should be considered.

"The downtowns of this country and of Centre County must have some sort of incentive to continue to grow," Saylor said.

Commissioner Steve Dershem said he wants to learn more about the tax increment financing, particularly how it could be used for development in Bellefonte and Philipsburg. He said he isn't sold on the idea yet but is enthusiastic about it and thinks it is worth looking at.

Anne Danahy can be reached at 231-4648.

[carlbell]

This is INDEED good news!

[Ex-Ithacan]

As far as the tax issue goes, Idon't understand why people don't see the long term benefits of tax breaks now. I know there's resentment that the companies are getting breaks the average Joe isn't geting, but some tax collected on a new project (with yearly increases to full taxation) is better than a site sitting bear with no foreseeable taxes coming into the city/county coffers. Of course tax breaks should only be doled out in order to make the project a bit profitiable (read insentive) for the developers. I'm sure a fair tax deferment formula could be worked out to the satisfaction of most (if not all) parties involved. Let's get the developments rolling and make downtown SC an even livelier place to be.

[architorture]

ah.... the fraser center was a 3rd design project back in architecture school.... i saw better plans for this thing then... but oh well it will be better than a parking lot

[Evergrey]

http://www.frasercentre.com/news.html

Fraser Centre Groundbreaking Ceremony Held in State College

October 31, 2007, Downtown State College, PA. —

Jack Kay, President and CEO of York based developer Susquehanna Real Estate(SRE), along with Dr. Graham Spanier, President of Penn State, and State College Borough officials participated in the groundbreaking ceremony for the new State College Fraser Centre Project. The ceremony took place at the project site on the northwest corner of Beaver Avenue and Fraser Street, on Wednesday, October 31 at 10:00 am and was open to the public and media.
The mixed use Fraser Centre facility will host a 53,000 square foot state of the art cinema, 20,000 square feet of new retail and office space, 54 owner occupied condominium units and a parking structure.
The site is currently owned by the Borough of State College. The Downtown State College Improvement District entered into an economic development agreement with the Borough in March of 2005. Request for Proposals were sent out nationwide in order to seek a qualified developer for the project. Susquehanna Real Estate was selected in June of 2005. The project is expected to take 24 months to complete.
“Fraser Centre has been in the making for two years,” said Jack Kay, President of SRE, “and achieved a major milestone when Cinema Center, a Pa. headquartered regional operator of cinemas was selected to be part of the project. This together with local and state financial support allows the $40 million + project to move forward.”