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DDA approves first amendment to purchase-and-sale agreement with Greystar to extend due diligence
Summary
The Chamblee DDA unanimously approved a first amendment to the purchase-and-sale agreement with Greystar Development East LLC to extend the buyer's due-diligence period after survey and environmental issues; the board authorized the Chair to execute related documents.
The Chamblee Downtown Development Authority on Aug. 26 voted unanimously to approve a first amendment to the purchase-and-sale agreement with Greystar Development East LLC extending the buyer’s due-diligence period.
Chair explained the amendment responds to Greystar finding issues during due diligence, including an apparent railroad easement that staff later determined had been released. The motion to "authorize, ratify, and confirm the entry of the DDA into the 1st amendment... and authorize the chair to execute related documents" was moved by a board member and seconded; the Chair called the vote and said the motion "passes unanimously."
Why it matters: the amendment preserves the buyer's ability to complete investigation at the site and keeps the sale on track while environmental questions are resolved. Staff characterized the change as routine and procedural; no additional financial commitment by the DDA was reported at the meeting.
The board did not discuss further modifications to the agreement at the public meeting and the vote concluded that agenda item.
