Title
Eastland Public Private Partnership
Action
Action:
A. Adopt a resolution approving an interlocal agreement between the City of Charlotte and Mecklenburg County for the Eastland Redevelopment Infrastructure Reimbursement Agreement funded through incremental City and County property taxes, and
B. Authorize the City Manager, or his designee, to negotiate and execute all documents necessary to complete the interlocal agreement.
Body
Staff Resource(s):
Tracy Dodson, City Manager’s Office
Todd DeLong, Economic Development
Explanation
§ The city purchased approximately 80.4 acres of the former Eastland Mall property in August 2012 as an opportunity to aid economic development and neighborhood revitalization in the area. Eastland Mall was demolished in 2013.
§ The redevelopment principles created by the Eastland Area Strategies Team help guide the redevelopment of the site:
- Enhance the perceptions of the Eastland area and East Charlotte,
- Unify local communities,
- Create connectivity and walkability for surrounding neighborhoods,
- Take advantage of natural features,
- Create opportunity for civic development, and
- Increase equitable economic development opportunities.
§ From 2017 to 2018, the Economic Development Committee, now known as the Jobs and Economic Development Committee (Committee), reviewed proposals from four development teams and voted unanimously to engage exclusively with the development team led by Crosland Southeast (Developer).
§ Throughout 2019, the city partnered with the Developer to lead a robust and broad outreach effort for more inclusive community engagement.
§ In September 2020, City Council approved the purchase of an about 7.96 acres adjacent to the mall site and located at 5745 Central Avenue to support sports and recreation uses for the property.
§ On November 9, 2020, City Council authorized the City Manager to negotiate and execute a Master Development Agreement and other necessary agreements for the reimbursement of costs for public infrastructure, public parking, and other public improvements.
§ On August 3, 2022, the city and the Developer held a groundbreaking ceremony on the site to initiate site work and infrastructure construction.
§ August 22, 2022, City Council authorized the City Manager to negotiate and execute an amendment to the contract with the Developer to increase the city’s investment in public infrastructure by $6,000,000 of CIP funds to reduce overall time and cost as well as better position the city to work with a new partner for the approximate 28-acre site targeted for sports and recreation uses.
Actions A and B
§ As part of the redevelopment the city and Mecklenburg County will reimburse Crosland Southeast and/or its related entities up to $11,000,000 through a tax increment reimbursement arrangement.
§ The interlocal agreement is necessary to formalize the county’s contribution to the construction of the public infrastructure improvements.
§ The Mecklenburg County Board of County Commissioners approved the interlocal agreement at its August 4, 2021 meeting. In March 2023, the County’s Economic Development Committee reaffirmed moving forward with executing the Interlocal.
Charlotte Business INClusion
The city negotiates subcontracting participation for Public Private Partnerships (P3) after the scopes of work are defined. (Part G: Section 2.5 of the Charlotte Business INClusion Policy).
Fiscal Note
Funding: Tax Increment Grant and General Capital Investment Plan
Attachments
Attachment(s)
Interlocal Agreement Resolution
Interlocal Agreement