Title
Approval of Exclusive Negotiation Agreement (ENA) with Big Rock Capital Partners, Inc. (BRCP) for redevelopment of the Former Griswold Property
Recommended Action
Committee Recommendation:
On October 24, 2016, the Community Economic Revitalization (CERC) approved a recommendation to Council for the selection of Big Rock Capital Partners, Inc. On November 21, 2016, CERC approved the draft Exclusive Negotiation Agreement (ENA) and recommended it be brought to full Council December 6, 2016.
City Manager Recommendation:
Move to approve the Exclusive Negotiation Agreement (ENA) with Big Rock Capital Partners, LLC, and authorize the City Manager to sign the necessary documents.
Report
Issue:
Whether to approve the ENA with Big Rock Capital Partners, LLC.
Staff Contact:
Renee Sunde, Economic Development Director, Community Planning & Development Department
Presenter(s):
Renee Sunde, Economic Development Director
Keith Stahley, Community Planning & Development Director
Leonard Bauer, Deputy Director, Community Planning & Development
Ryan Clintworth, Big Rock Capital Partners, LLC; Garner Miller, MSGS Architects
Background and Analysis:
Following the Council adoption of a Community Renewal Plan on July 11, 2016 the City of Olympia issued a Request for Proposal as part of the continuing efforts to revitalize its downtown in accordance with the Community Renewal Law in Chapter 35.81 RCW.
The RFP was issued to identify a qualified development partner for the redevelopment of the City-owned parcel located at 308-310 Fourth Ave E, commonly referred to as the former Griswold property with a primary objective to remove blight and create a vibrant mixed-use development.
Two proposals were received by the September 23 deadline. The City's Review Committee (City staff, Mayor Pro Tem Jones and representatives from ECO Northwest, Pacifica Law Group, and the National Development Council) formally recommended to CERC the selection of Big Rock Capital Partner...
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