Committee hears update on ATD acquisition and parking as downtown project moves to working group
City general counsel told the Economic Development Committee the city has made a $50,000 escrow payment on the ATD acquisition and staff are conducting title and environmental due diligence; committee members pressed for clearer parking needs and funding breakdowns for the plaza/garage work.
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Bridal Smith, the city’s general counsel, told the Economic Development Committee on July 24 that the city has paid a $50,000 escrow deposit on the ATD property and is performing title searches and environmental due diligence ahead of a closing that will trigger an 18‑month leaseback to ATD.
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