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Springfield economic development agency approves ENA to study 437 Main Street
Summary
The Springfield Economic Development Agency authorized the city manager to enter a 12-month exclusive negotiating agreement with OB Companies to do non-binding due diligence on CEDA-owned 437 Main Street; Board member Lovall abstained because she owns adjacent property.
The Springfield Economic Development Agency on Tuesday directed the city manager to enter an exclusive negotiating agreement (ENA) with OB Companies to study the feasibility of redeveloping 437 Main Street.
Sienna Fitzpatrick, the agency’s urban renewal analyst, told the board the ENA would allow OB Companies 12 months to conduct a market study, prepare a development and financial feasibility proposal, propose a performance timeline and coordinate with a nearby project at 538 Main Street.…
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