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Committee continues item on sale of transferable development rights at Warren Memorial Complex to Sept. 18
Summary
The committee continued an item authorizing the sale of up to 550,000 gross square feet of transferable development rights from the Warren Memorial Complex at fair market value to its next meeting on Sept. 18; public comment was not offered.
The Budget and Finance Committee continued consideration of a resolution authorizing the director of property to sell up to 550,000 gross square feet of remaining transferable development rights previously authorized from the Warren Memorial Complex, located at 301 and 401 Finesse Avenue. The clerk read the item and Chair Sandra Lee Fearer moved to continue the matter to the committee’s next meeting on Sept. 18; the motion was taken without objection. The committee opened public comment and had no speakers before the continuation was made.
Why it matters: The resolution would allow the director of property to dispose of remaining transferable development rights at fair market value, a transaction that could affect future development opportunities tied to the Warren Memorial Complex. The committee did not act substantively and will reexamine the proposal on Sept. 18.
