Title
Development and Reimbursement Agreement - Eastland Park
Action
ACTION:
Authorize the County Manager to negotiate the terms and conditions to execute a Development and Reimbursement Agreement between Mecklenburg County (“County”) and C4 Development, LLC ("Developer") and all necessary documents necessary for the design and construction of Eastland Park to be located on a portion of Tax Parcel 103-041-99 on Central Avenue.
Staff Contact: David Booth, Asset & Facility Management
Presentation: No
BACKGROUND/JUSTIFICATION:
At its April 2, 2024 meeting, the Board of County Commissioners accepted the donation of a portion of Tax Parcel 103-041-99 totaling ± 4.5 acres from the City of Charlotte set aside for a future park. The park parcel fronts Central Avenue, between Sole East Avenue and Hollyfield Drive, within the mixed-use redevelopment project of the old Eastland Mall, referred to as Eastland Yards. The redevelopment project will include retail, residential, and the creation of public uses, such as parks, greenspace and public parking.
The Developer approached the County about planning and constructing the park parcel simultaneously with the redevelopment of Eastland Yards. The developer proposed to fund the design of the park parcel with an agreement that the County would reimburse the developer in an amount up to $1,500,000. The reimbursement agreement would be for the design and engineering of the park parcel and any negotiated infrastructure improvements related to the development of the park. As part of its 2019 General Assembly legislative agenda, the County sought and obtained clarifying language and authorization to enter into such as agreement (See attached Senate Bill 242, Session 2019).
The park parcel will feature two (2) multi-purpose lawn areas, walking trails, a performance stage, restroom facilities, a playground, an interactive fountain, multi-purpose sport courts, skateable elements, a fenced dog lounge, various sea...
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