Title
Resolution Approving the Sale and Option of Land in the South Elm Redevelopment Area to Union Square Campus, Inc.
Body
Department: Planning
Council District: 2
Public Hearing: No
Advertising Date/By: N/A
Contact 1 and Phone: Sue Schwartz, 373-2149
Contact 2 and Phone: Dyan Arkin, 433-7377
PURPOSE:
The Redevelopment Commission of Greensboro proposes to convey to Union Square Campus, Inc. for development of a downtown university campus building approximately 1.1 acres with an option on approximately 0.9 acres within the South Elm Street Redevelopment area, now known as Union Square @ South Elm. City Council must approve the conveyance, subsequent to a recommendation by the Commission.
BACKGROUND:
In November 2013, Opportunity Greensboro announced its intention to locate a downtown university campus at the South Elm Street Redevelopment site. At the February 4, 2014 meeting, City Council passed a resolution of support for the Union Square Campus (Attachment A), which included direction to the City Manager and staff to develop a funding methodology to help support provision of up to two (2) acres of land and 250 parking spaces at no cost to USCI.
On November 19, 2014, the Redevelopment Commission of Greensboro approved a Sale/Development Agreement (Attachment B) with Union Square Campus Inc. (USCI) for construction of the first building of a downtown university campus at the corner of Lee and Arlington Streets (Alternate A). The Agreement includes an option for USCI to acquire an additional parcel of approximately 0.9 acres at the corner of Lee and South Elm Streets for construction of a second building. The Agreement was subject to a 10-day upset bid process, which has been advertised in accordance with state redevelopment law. On January 8, 2015 a revised agreement was approved by the Redevelopment Commission to reflect the building size and location of the option parcel.
On January 5, 2015 and January 8, 2015, the Redevelopme...
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