Manteca’s elected leaders on Tuesday are expected to formally agree to a $1.2 million deal to buy one of the city’s most historic buildings that holds both cultural and architectural significance.

The purchase of the IOOF Hall that now houses Manteca Bedquarters on the ground floor and the adjoining parking lot on the northwest corner of Yosemite Avenue and Main Street would allow the city to set the standard for downtown’s transformation at a major entry point.

In doing so the city would assure:

*It would be the first fully renovated building in downtown with the entire interior being reconfigured as well as exterior work for what is essentially a three-story structure.

*It has control over the design and tenant mix to set the tone for private sector revitalization efforts to follow.

*A vibrant entry point to downtown at Main and Yosemite will be created.

*Thoughtful preservation paired with new places to dine, gather, shop, enjoy the outdoors, and spend time with family and friends.

*Manteca would have a public sector investment key to driving private sector investment elsewhere in downtown.

The money to buy the property is coming from the city’s General Fund Economic Development Reserve.

The reserve has been at the maximum of $2.5 million since the limit was established in that amount in the 2019-2020 fiscal year.

Following the appropriation, the reserve would increase in accordance with the formula outlined in the reserve policy until it reaches the maximum of $2.5 million.

There is no final design or

tenant plan established yet

The city has no specific tenants or design plans in place.

Instead, they will work with the consulting firm that will be selected for the downtown specific plan and a design firm to develop a concept that reflects community needs, creates a sense of place, attracts visitors, and supports long-term economic vitality.

The city, as has happened in other locales, is banking on public investment with the property to encourage additional private investment to create a ripple effect benefiting downtown as a whole.

As for the actual IOOF Hall, the city has two plans to move forward when the purchase is completed.

Plan A involves the city issuing requests for proposals for a private development partner to help finance, design, and/or operate the building while maintaining some level of city control.

It would bring private expertise and investment to the project and share the risk.

General improvements would be made to the facade at the same time and the corner lot will be activated as a parking lot.

Plan B would be used if there is not a strong response to the request for proposals.

The city could hire a design firm first, develop plans, then go out to bid for construction separately.

General improvements would still be made to the facade and the parking lot activated.

Either which way, the city is expecting it will take a year or more before “movement” on the project occurs.

The $1.2 million deal as outlined would:

*Start with a $50,000 deposit for the property being purchased as-is.

*Include a 90-day feasibility period for city inspections.

*Require the seller to repair and update the parking lot.

*Have a closing within 180 days of completion of the feasibility period.

*Give the seller six months to vacate the building.

*Have the city assisting the non-profit tenant on the second floor — Ray of Hope — with identifying relocation opportunities within Manteca.

To contact Dennis Wyatt, email dwyatt@mantecabulletin.com