Downtown Properties:  

Source: Exhibit B in the Purchase Sale Agreement approved by the CRA on 10/8/2024  identifies the following 11 properties. The purchase price was ten dollars from the developer.  

Purchase prices from the city/CRA can be verified at https://pbcpao.gov/index.htm 

*Note: The CRA will be listed as the purchaser for some of the properties because the city transferred funds from the penny-sales tax to the CRA to use to purchase.

Affordable Housing: 

Source: Page 16 of the Development Agreement approved by the city commission on  10/15/2024 

6.5 Entitlement Waiver Fees 

Affordable Housing Waiver: $340,080.00 

6.6 … The CRA will provide an Affordable Housing Construction Agreement Incentive to the  Developer in the total amount of $1,400,000.00, payable at time of Closing.

Infrastructure Grant 

Source: Page 14 of the Development Agreement approved by the city commission on  10/15/2024 

6.2 … The Developer shall receive $2,000,000.00 in infrastructure improvement grants…

Utilities 

Source: Page 14 of the Development Agreement approved by the city commission on  10/15/2024 

6.3 …The Developer shall receive a onetime, lump sum payment of $250,000 from the CITY  to support water and sewer… 

6. 4 … The maximum amount of $82,547 to be paid by the CITY to the Developer is the total  Utility Incentive Fund set forth in this Agreement 

Source: Page 4 of the Long-Term Maintenance Agreement (Art Alley) approved by the city  commission on 2/4/25 

3.C .…to the City’s total budget of $650,000 for all undergrounding and decorative lighting in the Arts Alley, Arts Alley Extension, and adjacent alley from South K. Street to South J.  Street.

Historic Preservation 

Source: Contributing Structures Relocation Agreement approved by the city commission on 10/15/2024 – Removed line for 24 S L St that had burned down a few weeks before approval. Property Appraiser to verify the purchase price of land.

Parking Garage 

Source: Page 15 of the Development Agreement approved by the city commission on  10/15/2024 

6.5 (b) The CITY agrees and acknowledges that the Developer’s $1,000,000 contribution to the K Street Parking Component shall satisfy the full cost of all parking in lieu of parking waiver fees imposed by the CITY.

Source: Page 2 of the Development Agreement approved by the city commission on  10/15/2024 

The CITY, CRA, and the Developer shall enter into a Construction Agreement for the purpose of developing the K Street Parking Component, which shall require the contributions of $1 million from the Developer, $2.5 million from the CITY, and $1.5 million from the CRA along with the CRA issuing a $3.5 million capital improvement revenue note.