Since construction began on the Town Green, the interest in the surrounding land owned by the City and DDA has increased substantially. The BOMC and the DDA knew these properties would play an important role in delivering the vision of the Downtown Master Plan. Until recently, they thought the redevelopment of these parcels would take five to ten years. However, opportunities for development came sooner than anticipated and propelled both the BOMC and DDA to consider whether it would be in the City’s best interest to accelerate the timeline.
The initial due diligence from evaluating the proposals is promising. The BOMC and DDA strongly believe the proposals selected optimally leverage the property. Though no decisions regarding design, construction or financing have been made, the executive sessions were necessary to get to this point.