With the Amerock hotel project in place and the potential Ingersoll sports complex in the works, the city council discussed a plan for a parking structure in downtown. “We have a parking plan right now the RPS has about 140 spots currently.” said Patrick Zuroske, the City of Rockford’s capital program manager.
The current payment plan for the deal has the city paying off over 16 million dollars in debt over the next 20 years. The majority of the debt is designed to be paid by people who will pay to park over the span of the next 20 years and an additional $2.8 million comes from federal tax credits.
The proposed location for the parking garage is the old District 205 Administrative building and the school district would pay to demolish it. “The school district staff is ready to do that, we have worked hard with them we gave them demolition specifications and all the other paper work that we typically use when we do demos”
As a hotel, the Amerock building will complement the proposed 104,000-square-foot indoor sports facility, which is the former Ingersoll complex. Rockford city planners stressed the need for both buildings to exist in downtown Rockford. “This building is very significant to the Amerock-Ziock building, we obviously also have a letter from the Gorman folks saying that without the Ingersoll building, the Amerock building project is not as viable.” said Zuroske
Copyright 2015 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.