Title
Eastland Mall Redevelopment Property Transactions
Action
Action:
A. Adopt a resolution authorizing conveyance of options to purchase certain portions of real property (hereinafter "Private Development Parcels"), pursuant to a Master Development Agreement, to C4 Development, LLC. The Private Development Parcels are located along Central Avenue between North Sharon Amity Road and Wilora Lake Road and comprise of approximately 57.5 acres of the 77.96-acre site (parcel identification numbers 103-041-08 and 103-041-99), commonly known as Eastland Mall, and
B. Authorize the City Manager, or his designee, to negotiate and execute any and all documents necessary for the conveyance(s) pursuant to the Master Development Agreement.
Body
Staff Resource(s):
Tracy Dodson, City Manager's Office
Todd DeLong, Economic Development
Background
* 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. The mall structure was demolished in 2013.
* The redevelopment principles created by the Eastland Area Strategies Team help guide the redevelopment of the site. Principles include:
* 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.
* In June 2017, the City Council Economic Development Committee (Committee) provided direction to seek a private development partner prior to engaging in additional site preparation work.
* In March 2018, four development teams interested in partnering with the City presented general development concepts to the Committee.
* In September 2018, the Committee voted unanimously (Council members Mitchell, Driggs, Harlow, Mayfield, and Newton) to direct staff to engag...
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