By Terri Ferguson Smith
Plans for the historic Threefoot Building in downtown Meridian are still being looked at, according to John McClure, director of the city's Community Development Department.
McClure said there are three proposals being studied regarding the art deco-style 15-story building. The city bought the building in 2006 for $1.2 million ahead of a development deal that eventually fell through. The city then had to pay an additional $1 million to the developer for canceling the agreement.
City leaders asked for proposals for Threefoot last year and received three that are under consideration.
"We are excited about our prospects. We are continuing to move forward with our assessment and evaluation of our proposals," McClure said. "We hope to be able to make a selection of someone to do the work in the near future."
The request for proposals included not only the proposed purchase price offered by the buyer, but also what the developer plans to do with the building and how that plan fits in with the overall plan to redevelop downtown, McClure said.
"The big thing is what do you want to do with it," McClure said. "You need to be able to demonstrate to us that you have the capacity to take on this project and to successfully complete it."
McClure said that will signal that the buyer has the money, or at least access to it, and that they also have the experience of having succeeded in a similar project.
"All three of these developers have a track record for having completed similar projects," McClure said.
Built in 1929, Threefoot Building was listed on the National Trust for Historic Preservation's list of the nation's 11 Most Endangered Historic Places in 2010.