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Hardeeville council accepts $260,000 to satisfy affordable‑housing obligation tied to large development
Summary
The Hardeeville City Council on Jan. 8 approved a resolution accepting a $260,000 payment from TrueBridge Bluff to terminate a memorandum of understanding requiring an affordable‑housing project for a 2,200‑acre development, and authorized city staff to execute related documents ahead of a pending property sale to Minto.
The Hardeeville City Council on Jan. 8 voted to accept a $260,000 cash payment from TrueBridge Bluff to satisfy an affordable‑housing obligation in a memorandum of understanding tied to a roughly 2,200‑acre development, clearing a legal hurdle for the property's pending sale to Minto for an expansion of Margaritaville.
The payment represents 2 percent of the 2,600 dwelling units that were originally entitled for the site, multiplied by $5,000 per unit, Rob Brann, an attorney representing TrueBridge Bluff, told the council. “We would like to offer to pay that fund to you that could be used for other projects … for a total of $260,000,” Brann said, adding his client has arranged private financing so the money can be delivered by closing next Wednesday.
Why it matters: The memorandum of…
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