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IURA authorizes RFEI for 6-acre Cherry Street site; committee approves geotech and appraisal spending
Summary
The Ithaca Urban Renewal Agency’s (IURA) Economic Development Committee authorized an RFEI to solicit proposals for the southerly end of Cherry Street and approved up to $16,000 for geotechnical and appraisal services to support the disposition process.
The Ithaca Urban Renewal Agency’s Economic Development Committee on April 8 authorized staff to issue a request for expressions of interest (RFEI) to solicit proposals to purchase and develop part or all of the IURA’s six-acre site at the southerly end of Cherry Street.
The committee’s resolution sets the RFEI guidelines to prefer fair-market-value sale terms, allows eligible uses permitted in the Cherry Street district or via the planned unit development (PUD) process, and requires proposals to deliver at least one significant long-term community benefit. The RFEI scoring will weight economic benefit at 30 percent, community benefit at 30 percent, and respondent qualifications and capacity at 40 percent. The committee…
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