By: Christine Souders
It's an eye sore that's been sitting empty along the Davenport Riverfront for a decade.
Now city leaders are figuring out what to do with the former Dock Restaurant.
Location, location, location, Davenport City leaders are working to bring a new showpiece to the riverfront.
Council members and the Levee Commission weighed in Monday night, on the latest proposal to turn the prime real estate into a $27 million dollar, four-story destination.
Raufeisen Development Company wants the two groups to provide tax increment financing, TIF of $6 million dollars in exchange for a long term lease and construction.
The developer, Todd Raufeisen said he envisions a mixture of restaurants, offices, rooftop event spaces, and a bridge connecting patrons to the former Dock Restaurant along the Mississippi.
"There's no place you can go and truly experience and enjoy dining and entertainment on the river," said Todd Raufeisen, the developer.
But the big concern for some levee commissioners is the four stories, and the potential for it to obstruct the river's view.
"I'm really thinking of the people who live in our community, because they are the ones who's going to be looking at it," said Audrey Linville, a member of the Levee Commission.
The developers' initial proposal was for a three story building, but Raufeisen said the added floor is necessary to start the construction, and to generate revenue for the city.
"The reason we went to a 4 story building is it's our belief taxpayers of davenport would like a project that pays for itself," Raufeisen also stated the city would have to pay up front just over $1million to cover lost projections.
Some city leaders said they understand the need for the additional floor, when you look at the dollars and cents.
"That may be the only way to get it done because of the cost involved," said Mayor Bill Gluba, City of Davenport.
The developer said he wants to start construction in Spring 2014, from there it would take a year to complete it.
Mayor Gluba added the next step is to get the proposal on city councils' agenda, and to tie it into an updated Rivervision plan.
He said the public will also have the opportunity to weigh in on the possible development.