Title
Resolution to Rescind Resolutions #98-17 and #352-17 Regarding the Downtown Development Agreement and Project Involvement and Cost Sharing Construction Agreement with CHI Greensboro LLC
Body
Department: Executive
Council District: 3
Public Hearing: N/A
Advertising Date/By: N/A
Contact 1 and Phone: David Parrish, City Manager - 336-373-2002
Contact 1 and Phone: Tom Carruthers, City Attorney - 336-373-2320
PURPOSE:
Rescind the prior resolutions which authorized a downtown development agreement and a project involvement and cost sharing agreement with CHI Greensboro, LLC regarding the proposed Eugene Parking Deck.
BACKGROUND:
On May 2, 2017, City Council adopted Resolution # 98-17 which authorized the City Manager to enter into a Downtown Development Agreement (DDA) with CHI Greensboro, LLC to design a public/private parking structure in the Eugene/Bellemeade area with a cost not to exceed $2 million. On September 19, 2017, City Council adopted Resolution # 264-17 which authorized the City Manager to execute a Downtown Development Project and Parking Agreement with Downtown Slugger, LLC regarding its development of a new office tower adjacent to the First National Bank Field (the Grasshoppers Stadium) and the City's commitment to provide 265 parking spaces at market rates. On December 19, 2017, City Council adopted Resolution #352-17 which authorized the City Manager to negotiate and execute a project involvement and cost sharing agreement with CHI Greensboro, LLC regarding the construction of the Eugene Parking Deck. The City and CHI Greensboro, LLC were unable to agree to the necessary terms and have agreed to terminate the Downtown Development Agreement. As a result of the rescission of these resolutions, the City, County, and CHI Greensboro, LLC can enter into new agreements for the purchase and exchange of property in order to effectuate the design and construction of the Eugene Parking Deck in a new location in the Eugene/Bellemeade a...
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