Explanation
Background: The City is under contract to sell 10.877 acres of the former Lazarus Department Store site at the former Northland Mall to Northland Associates LLC. A need exists to demolish the in-line mall space, the old Sears store, the Sears tire store, the former bank drive-through, all Northland Mall signage and at a later date, the Taco Bell restaurant. Completion of Retail Ventures, Inc.'s corporate offices are to follow and will be the first project in the overall $150-200 million redevelopment effort known as NorthlandPARK. In order for Columbus Urban Growth Corporation (CUGC) to clear the site to make way for new construction the Director of Department of Development must enter into a Guaranteed Maximum Cost contract with CUGC for the amount of $1,100,000 to perform demolition work.
Fiscal Impact: $1,100,000 in capital funds to be expended from Fund No. 735.Emergency Justification: Emergency action is requested in order to meet contract deadlines for redevelopment.
Title
To authorize the Director of Development to enter into a $1,100,000 Guaranteed Maximum Cost contract with Columbus Urban Growth Corporation for purposes of demolition at the old Northland Mall site to allow for new development known as NorthlandPARK; and to declare an emergency. ($1,100,000)
Body
WHEREAS, The City is under contract to sell 10.877 acres of the former Lazarus Department Store site at the former Northland Mall to Northland Associates LLC; and
WHEREAS, the tenant who will be occupying the former Lazarus site, Retail Ventures, Inc., intends to relocate its corporate offices into the renovated structure; and
WHEREAS, Columbus Urban Growth Corporation ("CUGC"), Lessee of the remaining Northland Mall site and as developer of the Northland Mall site, needs to demolish buildings on the Mall site in order to allow for future development; and
WHEREAS, CUGC has indicated that demolition must take place immediately after the tran...
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