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City staff proposes buying Riverside Village parcels for cyber building using DOE settlement funds
Summary
City staff recommended acquiring Parcel B (stadium deck) and Parcel D (undeveloped site) in Riverside Village for about $5 million, funded from Department of Energy settlement allocations earmarked for cyber infrastructure; financial advisers said the village revenues have outperformed earlier projections and the acquisition would support consolidated parking and a city-owned cyber facility.
City Administrator Jim Clifford presented a concept to purchase two Riverside Village parcels — Parcel B (the privately owned stadium parking deck) and Parcel D (an undeveloped lot adjacent to the stadium) — with Department of Energy settlement funds allocated to North Augusta ($37 million total allocation to the city: $2M transfer station, $15M cyber infrastructure, $20M Savannah Bluff Lock & Dam). Staff estimated a combined base acquisition cost of roughly $5 million for both parcels.
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