Information Items:
Charlotte Coliseum Property
Staff Resource: Curt Walton, 704-336-5019
With Council's approval last night of the rezoning petition for the Charlotte Coliseum property, Crescent Resources now has 30 days to evaluate the zoning and the site plan to determine whether or not to amend the $24 million purchase offer it submitted in January 2003. That information will be communicated to the Mayor and City Council as soon as it is received.
Regardless of Crescent's opening bid, State law requires the property to be sold through competitive bid. Staff will begin immediately to market the property nationally for approximately 12 months, followed by an appraisal of the property based on the new zoning plan and the market conditions at that time.
At the end of that period, the formal competitive process will begin and it should be completed by mid-2005. The Coliseum cannot be fully vacated until early 2006, so the closing on the property, and therefore the payment for the property, will not be complete until the first quarter of 2006.
Staff will keep you posted as we transition from one phase of the process to the next.
Mayor's Business Breakfast
Staff Resource: Tom Flynn, 704-432-1396
The Mayor's Business Breakfast will be held on Thursday, January 29, 2004 from 7:30 am to 9:00 am at the Morehead Inn. Please RSVP by January 26 to Angela Grier at 704-432-1395 if you would like to attend.
