Title
Public-Private Partnership to Restore and Redevelop Historic Excelsior Club
Action
Action:
Authorize the City Manager to negotiate and execute a restoration reimbursement agreement in an amount not to exceed $1,500,000 with Kennedy Property Development and Crosland Southeast, or a to-be-formed related entity, for the restoration and redevelopment of the historic Excelsior Club.
Body
Staff Resource(s):
Shahid Rana, Economic Development
Todd DeLong, Economic Development
Explanation
* The Excelsior Club, located in Council District 2, is a cultural landmark which became a sanctuary for African Americans during the era of segregation. Nestled in the heart of Washington Heights, it served as a gathering space for artists, activists, and leaders, hosting jazz greats, civil rights icons, and generations of Charlotte's Black community.
* The Excelsior Club was designated as an historic property for its special significance in terms of history, architecture, and cultural importance.
* The Excelsior Club closed in 2016 and has remained vacant since that time.
* Kennedy Property Development and Crosland Southeast (Developers), or a related entity, intend to purchase the Excelsior Club property for the purposes of redeveloping it as community and entertainment venue.
* The agreement will provide that the Developers shall submit plans to the Historic Landmarks Commission and receive approval of such plans before proceeding with any redevelopment, preservation, restoration, or replications efforts.
* The city and county have agreed to enter into a tri-party agreement to provide financial assistance to the Developers for the restoration and replication of the historic Excelsior Club fa?ade.
* The Board of County Commissioners approved funding for up to $1.5 million to support the restoration and preservation of the historic community amenity.
* The city's restoration reimbursement not to exceed $1,500,000 will be funded through a combination of:
* $1,313,000 in r...
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