(8)(h)
CITY COMMISSION REGULAR MTG
- Meeting Date:
- 09/20/2017
- Title:
- Sale of PIT Property to TCEDC - 400 Block of MLK
- Submitted For:
- Nick Finan
- Submitted By:
- Nick Finan, Management Services
- Department:
- Management Services
Information
ACTION REQUEST (Brief Summary)
Consider and take action on Resolution No. 17-066 authorizing the sale of Property in Trust properties to the TCEDC in the 400 block of Martin Luther King. (Management Services)
BACKGROUND
The TCEDC is purchasing PIT property in order to exchange for property owned by Eastman Chemical. The Eastman property is adjacent to a vacant building that is in the process of being redeveloped into warehouses in line with approved activities within the IBD zone. Once the property adjacent to the vacant property is secured by the TCEDC, it will sell it to Ami Barzilay (owner of the vacant building so that he can redevelop the land and meet the IBD requirements for open space and landscaping.