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Urban Core board backs recommendation to sell 101 West Main, earmark proceeds for affordable housing
Summary
The Urban Core Redevelopment Board recommended selling the 0.62-acre 101 West Main parcel at fair market value with timelines and clawback provisions; proceeds would be earmarked for affordable housing within the CRA. The board voted by voice; the transcript records unanimous 'Aye' responses but does not provide a numerical tally.
A board member moved and the Urban Core Redevelopment Board approved a recommendation that the CRA seek to sell 101 West Main at fair market value with contractual timelines for permitting and construction and clawback provisions if the developer fails to meet milestones. The motion includes a stated preference for first-floor retail or restaurant space with multifamily, office or condos above, and an explicit provision that sale proceeds be earmarked for affordable housing within the CRA.
The motion was introduced by a board member who proposed: "I make a motion that the CRA considers selling the piece of land at fair market value. The money, provided would be earmarked for affordable housing within the CRA... 1st Floor, retail restaurant use, and anything above the 1st Floor could be used for…
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