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Title:
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ORD Auth the Mayor, or His Designee, & the Corp Sec to Execute: (1) an Amended & Restated Redevelopment Agmt btwn the COJ & Armory Redevelopment Associates, LLC (“Developer”); (2) an Amended & Restated Lease Agrmt btwn the City & the Developer with an Initial Lease Term of 40 Yrs; (3) a Quitclaim Deed with a Right of Reverter Conveying a City-Owned Parcel of Land to the Developer; & (4) Related Agrmnts as Described in the Redevelopment Agrmt, for the Renovation & Lease of the Armory Bldg, to Provide for the Purchase by the Developer of an Adjacent, ±2.97 Acre of City-Owned, Improved Propty at 928 N Liberty St to be Developed Into ± 100 Residential Units, & to Provide an Option to the Developer to Purchase the Armory Bldg for a Period of 15 Yrs from the Acceptance Date of the Lease at a Purchase Price of $2,749,975 with annual Increases as Set Forth in the Lease; Designating the OED as Contract Monitor for the Redevelopment Agrmt, Lease, Quitclaim Deed &a...
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