Agenda Text
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Requesting approval of the former Powder House School Property Land Disposition Agreement.
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Official Text
To the Honorable Board:
Submitted for your approval in accordance with the vote to surplus the former Powder House Community School property (Docket Item #194336) is the Land Disposition Agreement (LDA) between the City and the City's selected developer, MarKa, LLC. MarKa's accepted proposal for the site was further refined by a community process.
By the terms of the LDA, MarKa will take title to that portion of the former school property on which the building is located. On the remainder of the former school property, MarKa will create a publicly accessible open space. As required by the Board's vote to surplus the property, the site will contain at least 40% open space between MarKa's parcel and the open space parcel. A draft subdivision plan and open space design plan are attached. The proposed zoning for this parcel will be submitted in a separate docket item.
The form of the LDA closely follows the draft form that was contained in the original Request for Proposals. The terms of the LDA are acceptable to both parties.
My staff will be available to answer any questions you may have on this matter.
Respectfully submitted,
Joseph A. Curtatone, Mayor