NORTH CAROLINA
EXECUTIVE SUMMARY
Meeting Date: 1/25/2010
AGENDA #6d
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TOWN OF CHAPEL HILL NORTH CAROLINA EXECUTIVE SUMMARY |
Meeting Date: 1/25/2010 |
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| Title of Agenda Item:
Status Report on 140 West Project. (Rosemary/Church Street Parking Lot) |
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| Background: This report reviews the history and key points of the Town’s Development Agreement with Ram Development Company to develop the 140 West project on the Rosemary/Church Street Parking Lot in downtown Chapel Hill (formerly known as Lot 5). In addition, this report provides information from Ram Development Company on the status of the project. | |||
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| Fiscal Note: Section 2.2 (a) (iv) of the Development Agreement provides that the Town shall provide $7.245 million for 161 public parking spaces (or other amount adjusted per the Agreement) upon substantial completion of the Parking Garage component of the project. | |||
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| Recommendations: That the Council receive the report. | |||
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| ATTACHMENTS: Viewing attachments may require Adobe Acrobat. |
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| Staff Memorandum | |||
| Summary of Project History | |||
| Key Milestones of the Development Agreement | |||
| August 17, 2009 Letter from Ram | |||
| December 22, 2009 Letter from Ram | |||