File #: 2022-0727-E    Version: 1 Name:
Type: Ordinance Status: Enacted
File Introduced: 9/27/2022 In control: City Council
On agenda: 10/25/2022 Final action: 10/25/2022
Effective date:    
Title: 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...
Introducer and/or Co-Sponsor(s): Mayor, Reggie Gaffney
Assigned Committees: FINANCE, NCSPHS, TEU
Legislation Documents: 1. 2022-727 Original Bill, 2. 2022-727 LFS, 3. 2022-727 Bill Summary
Final documents: 1. 2022-727-E