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Commission approves sixth amendment extending closing date on "George" property purchase agreement
Summary
The commission approved a sixth amendment to the George real property purchase agreement to extend the outside closing date to May 30, 2025, to allow additional due diligence; staff said they expect to close earlier.
The Redevelopment Commission approved a sixth amendment to the real property purchase agreement for the project referred to in the record as the "George" project, extending the outside closing date.
Staff summarized the transaction history and said the extension is requested "in order to continue needed due diligence for the project" and to align with changes in the street grid and infrastructure. The amendment would extend the closing to May 30, 2025; staff said they expect an earlier closing but requested the longer outside date to avoid further amendments.
A motion to approve the 6th amendment was moved and seconded and approved by unanimous voice vote. The transcript records the amendment history and multiple prior amendments dating back to 2023–2024 that adjusted scheduling and terms.
