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URA authorizes FG Infrastructure closing on remaining Fort Gillum acreage; new property manager updates tenant payment and building inspections
Summary
The URA authorized FG Infrastructure to exercise its option on 53 remaining Fort Gillum acres and to permit the Chair to execute closing documents. TI Asset Management, the new property manager, reported a new Bank of America operating account forthcoming, tenant payment options via AppFolio (fees noted) and preliminary building-walk findings.
The Forest Park URA voted to authorize FG Infrastructure and affiliates to exercise an option to purchase the remaining 53 acres at Fort Gillum and authorized the Chair to execute closing documents, with a closing scheduled for the coming Tuesday (or possibly Monday if paperwork is complete).
"We entered into an agreement to sell 153 acres ... they have exercised their option to purchase, and closing is set for this coming Tuesday," an attorney for the URA said, asking the board to authorize the transfer and to empower…
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