Monday, November 9, 2009

Proposals opened today for long-blighted Covington brownfield

Today at noon, the City of Covington Economic Development Department will open sealed proposals for the acquisition of the former Donaldson Art Sign Company property at 2111-2143 Donaldson Avenue, in the city's Wallace Woods neighborhood.

City officials are likely to score the proposals based upon the quality of the development concept, benefits to the city, benefits to the community, project feasibility, and respondent capacity and experience.

Respondents are required to demonstrate the number of jobs that would be created and possible end users.

The Donaldson Art Sign Company ceased operations in 1987 following bankruptcy and, when the mortgage holder also went bankrupt, control of the property reverted to the city.

A 1990 arson fire heavily damaged the building, which was razed more than a decade later.

Since then, the nearly two-acre property has been a U.S. Environmental Protection Agency (USEPA) brownfield site and has had both Phase I and Phase II Environmental Assessments.

The USEPA and the city have performed limited remediation work to remove asbestos, solvents, and fuel oil, but it's believed that the site could need more soil cleanup before it can be fully redeveloped.

The property is zoned for light industrial use and is being sold "as is".