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Council approves 24-month deferral of Pizitz loan payments to aid food-hall retenanting
Summary
Birmingham's City Council authorized a consent and ratification enabling a 24-month deferral of payments on a $3.2 million HUD 108 loan tied to the Pizitz Building, allowing the developer additional time to retenant and rebrand the food court after COVID-related declines.
The Birmingham City Council on Tuesday approved a resolution consenting to a 24-month deferral of loan payments owed by Pizitz, LLC to the City of Birmingham Downtown Redevelopment Authority for approximately $3.2 million in HUD 108 financing originally made in 2015.
Developer David Silverstein told the council the deferral is intended to give the Pizitz food hall breathing room to rebrand, attract new tenants…
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