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ORDER OF THE BOARD OF ALDERS OF THE CITY OF NEW HAVEN APPROVING THE EXECUTION AND DELIVERY OF A PROPOSED DEVELOPMENT AND LAND DISPOSITION AGREEMENT BETWEEN THE CITY OF NEW HAVEN AND BIGELOW SQUARE, LLC, PROVIDING FOR THE CONVEYANCE OF A PORTION OF REUSE PARCEL 'I' IN THE RIVER STREET MUNICIPAL DEVELOPMENT PROJECT AREA, BEING KNOWN AS 198 RIVER STREET IN ACCORDANCE THEREWITH
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WHEREAS: the Board of Aldermen on January 7, 2002, acting pursuant to the provisions of Chapter 132 of the Connecticut General Statutes, as amended, adopted the River Street Municipal Development Project Plan (the "River Street MDP"); and
WHEREAS: Bigelow Square, LLC, (the "Buyer"), has submitted a proposal for the purchase of a portion of Reuse Parcel 'I' (also known as 198 River Street, New Haven, Connecticut, consisting of approximately 0.78 acres, more or less) situated within the River Street MDP area (the "Property") at a price of One Dollar and Zero Cents ($1.00), and for the proposed redevelopment of the Property in accordance with the Buyer's proposal and the River Street MDP; and
WHEREAS: the Buyer proposes the construction of a 10,000-square-foot commercial/industrial building to be leased for uses consistent with the River Street MDP (the "Project"); and
WHEREAS: the Project will generate significant new jobs and property taxes and would revitalize a portion of the River Street MDP area; and
WHEREAS: the New Haven Development Commission has determined that the Buyer's proposal for the purchase of the Property is consistent with the purposes of the River Street MDP and has approved the sale of the Property by the City of New Haven (the "City") to the Buyer for development in accordance with said Buyer's proposal, as more particularly described in a proposed Development and Land Disposition Agreement with respect thereto (the "DLDA") and in accordance with the River Street MDP; and
WHEREAS: the New Haven Development Commission has recommended that the Board of Alder...
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