The plans were to lease 1 acre of city-owned land to the museum for $1 a year. Themuseum would provide $200,000 over 20 years in case the facility vacated the 20-year lease, and left the site vacant.
However, the council wishes changed with the election of three new membersApril 2, including new Mayor Matt Pryor. After his election, Pryor said one priority was canceling the museum plans. He said he does not believe in giving away city land.
The council will hold a special closed meeting in May to consider itsoptions. Rosetti and Associates is the developer of the project.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
