Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Real Estate Development topic
No spam. Unsubscribe anytime.
Chamblee DDA approves 7th Amendment to Greystar purchase agreement, sets new LDP and closing timing
Summary
The DDA unanimously approved a 7th Amendment to the Greystar purchase-and-sale agreement that resets the LDP issuance deadline to Sept. 17 with a Sept. 18 closing; Greystar retains two 30-day extension options at $150,000 each and the DDA confirmed receipt of an FAA letter and a recorded lot-line adjustment plat.
The Chamblee Downtown Development Authority unanimously approved a 7th Amendment to the purchase-and-sale agreement with Greystar Development at its July 28 meeting. Chair described the primary change as a deadline adjustment for issuance of the LDP, moving from the original July 31 date to a target of September 17 so the parties can resolve how the city center property is legally defined.
Chair said the city and Greystar preferred to complete work before a scheduled September 18 closing and that Greystar retains the right to two 30-day extensions at $150,000 each. The board also confirmed receipt of an FAA letter with planning and development and acknowledged that a lot-line adjustment and combination plat have been prepared, approved and recorded. A motion to approve the 7th Amendment was made, seconded and passed unanimously.
Board members did not request additional substantive changes during the meeting; the amendment is intended to allow time to resolve platting and property-definition matters ahead of closing.
