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Council approves Summit Fair property transfer and developer assignment to Block & Company
Summary
Council approved two companion ordinances transferring remaining Summit Fair property from RED Development entities to a Block & Company purchasing group and assigning developer responsibilities under the Summit Fair TIF. Block & Company pledged local management continuity and a leasing push to broaden retail and family‑oriented uses.
The council unanimously approved two companion ordinances on Nov. 3 allowing a transfer of Summit Fair property and the assignment of developer interest under the Summit Fair Tax Increment Financing (TIF) redevelopment agreement.
City staff said the transfer would move the remaining ownership interest in the shopping center from RED Development to a group of Block &…
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