What is the proposed structure for these public-private partnerships?

STEP 1: An Inter-Governmental Agreement (IGA) adopted on May 11, 2022, between the BOMC and the DDA  provides the DDA control of all the parcels mentioned above allowing the DDA to use its status as a development authority to engage with the developers. This agreement will outline the requirements set forth by the BOMC/DDA for these properties. It will include covenants for design guidelines, desired and prohibited uses of the properties, stipulations for the flow of funds, and ultimate ownership of key components of the parcels.  

STEP 2: Memorandums of Understanding (MOUs) between the DDA and the respective developers are not binding but enable the development teams to confidently move forward with the design and financing of their projects. The MOUs will again be subject to discussion and a vote in a public meeting.     

STEP 3: The DDA will contract with each of the development teams to execute these projects. These development contracts will form the basis of governance for the development projects' financing, design, construction, occupancy, and use.

Show All Answers

1. What are the proposed projects?
2. Why are these projects good for the City? As a resident, what’s in it for me?
3. Is there a hotel group associated with the boutique hotel and what size will it be?
4. Is this a done deal?
5. Who is approving the design of these buildings?
6. What are the financial implications?
7. How are you going to fund a parking deck that is reserved for the public?
8. Are the live-work units going to require a public investment?
9. Does the hotel need additional public investment?
10. What is the proposed structure for these public-private partnerships?
11. What is the timeline and current status of the projects?