HomeMy WebLinkAboutINTERGOVERMENTAL AGREEMENT FOR THE SALE, FINANCING AND REDEVELOPMENT OF CERTAIN CITY OWNED PROPERTIESINTERGOVERNMENTAL AGREEMENT
FOR THE SALE, FINANCING AND REDEVELOPMENT
OF CERTAIN CITY OWNED PROPERTIES
This Intergovernmental Agreement (the "Agreement" or the "Conveyance IGA") is made and
entered into this day of 96LI , 2016 by and between the Augusta -
Richmond County Consolidated Governor t, a political subdivision of the State of Georgia,
(hereinafter referred to as "City") and the Downtown Development Authority of Augusta -Richmond
County, Georgia (hereinafter referred to as "DDA").
WITNESSETH:
WHEREAS, the City is a political subdivision of the State of Georgia and the DDA is a
public body corporate and politic created pursuant to the provisions of O.C.G.A. § 36-42-1, et seq.;
and
WHEREAS, pursuant to Article IX, Section III, Paragraph I of the Constitution of the State of
Georgia, the City and DDA are authorized to enter into Intergovernmental Agreements for periods
not exceeding fifty (50) years in connection with the activities which these entities are authorized to
undertake;
WHEREAS, pursuant to Article IX, Section VI, Paragraph III of the Constitution of the State
of Georgia, the DDA is authorized to further activities to promote public purposes to develop trade,
commerce, industry, and employment opportunities within the City of Augusta;
WHEREAS, the DDA is authorized pursuant to O.C.G.A., §36-42-8(a) (8) to make
application directly or indirectly to any municipal government or agency or to any other source,
whether public or private, for loans, grants, guarantees, or other financial assistance in furtherance of
the DDA's public purposes and to accept and use the same upon such terms and conditions as are
prescribed by such municipal government or agency or other source;
WHEREAS, the City owns and controls the real property and improvements thereon located
at 511 Reynolds Street Augusta, Georgia 30901, Augusta -Richmond County tax parcel 0472003000
(the "Property"); and,
WHEREAS, the Property is currently underutilized and has the potential to become a
destination for the City with vitality, and a sense of place and community; and
WHEREAS, the City desires the creation of a master plan (the "Master Plan") for the
redevelopment of the Area in a manner that will spur additional development
opportunities and create jobs in the City; and,
WHEREAS, the City wishes to enter into an Intergovernmental Agreement with the DDA to
provide for the development of a strategy for the redevelopment and revitalization of the Property, so
as to enhance the downtown district of the City, to promote public purposes, and to develop trade,
commerce, industry and employment opportunities in the City; and,
WHEREAS, the DDA agrees to manage and develop a strategy for the revitalization and
redevelopment of Property, subject to the approval of both the DDA and the City; and
NOW THEREFORE, in consideration of the mutual promises, covenants and undertaking set
forth herein, and detailed in the aforesaid recitals, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged by the parties, the City and the DDA do
agree as follows:
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Intergovernmental Agreement final 5-5-15.doc
1.
The City shall retain all title and interest in the Property until such time as this agreement is
modified to provide for the sale, lease or transfer of the all or some portion of the Property to the
DDA or a third party pursuant to the Master Plan.
2.
The DDA, in conjunction with one or more private developers, shall use its best practices to
manage and develop a Master Plan for the revitalization and redevelopment of the Property, to
enhance the downtown district of the City, to promote public purposes, and to develop trade,
commerce, industry and employment opportunities in the City.
3.
The DDA shall use its best practices to prepare and submit to the City for review and
approval such Master Plan for the Property within twelve months
0
The DDA shall review and approve for submission to the City, for the City's review and
approval, any and all development plans for the Property.
5.
Both the City and the DDA agree to consider the use of such tools as are available to them
to assist in funding public infrastructure or public improvement necessary for the
development of the Area or any funding gaps required for the development pursuant to the
Master Plan, as they may determine to enhance the downtown district of the City, and/or promote
public purposes, and/or develop trade, commerce, industry and employment opportunities in the
City.
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Intergovernmental Agreement final 5-5-15.doc
I
The DDA is hereby expressly authorized to enter into certain Preliminary Development
Agreements with a developer or developers consistent with this Agreement and subject to the
approval of the City.
7.
Either party hereto may terminate this agreement with thirty (30) days' notice to the
other party.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed in
three counterparts each to be considered as an original by their authorized representative, on the day
and date hereinabove written.
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By:
Its: Chairman
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Intergovernmental Agreement fmal 5-5-15.doc