title
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
body
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 Alders of the City of New Haven authorize Mayor Justin Elicker to execute and deliver a deed conveying the Property, subject to a DLDA in such form as the Board of Alders of the City of New Haven (the “Board of Alders”) shall approve, together with such other agreements and/or instruments as the Office of the Corporation Counsel shall determine to be necessary or desirable to effect the conveyance of the Property to the Buyer subject to the DLDA; and
WHEREAS: the Board of Alders has reviewed and approved the attached form of DLDA; and
WHEREAS: the Buyer has indicated its willingness to enter into the DLDA based upon the terms and conditions therein set forth.
NOW, THEREFORE, BE IT ORDERED by the Board of Alders as follows:
1. that the proposal of the Buyer as regards the purchase of the Property is consistent with the purposes of the River Street MDP and is in the best interests of the City as regards redevelopment of the Property; and
2. that the Buyer possesses the qualifications necessary to acquire and develop the Property in accordance with the requirements of the River Street MDP and the proposed DLDA; and
3. that the Buyer shall abide by the provisions of Section 4.5(g) of the DLDA , which states that the Buyer shall maintain five (5) street trees to be planted by the City abutting the Property and 194 River Street in tree pits to be expanded by the City to the City standard of four (4) feet by eight (8) feet, as well as maintain each drywell which the City shall install adjacent to each tree pit to facilitate tree hydration, funding for which tree pit expansion, tree planting and drywell installation is available through Office of Economic Development Special Fund account 2064-2125-56694; and
4. that the proposed form of DLDA between the City of New Haven and
Bigelow Square, LLC providing for the conveyance of the Property and subsequent redevelopment thereof, is hereby specifically approved; and
5. that the Mayor is hereby authorized and directed to execute, on behalf of the City, the DLDA in substantially the form submitted to the Board of Alders, a deed conveying the Property in the manner therein described, together with such other ancillary documents or instruments as described therein or as the Office of the Corporation Counsel shall deem necessary or appropriate in order to effect the intent of this Order, and that, to the extent necessary or desirable, the City/Town Clerk is hereby authorized and directed to impress and attest the official seal of the City onto any such documents.