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To declare surplus and direct the conveyance of the City-owned real estate known as 500 North 10th Street, consisting of 3.010? acres, for nominal consideration to the Economic Development Authority of the City of Richmond for the purpose of facilitating the redevelopment of such parcel as part of a transit-oriented, mixed-use project known as "City Center."
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WHEREAS, by Resolution No. 2020-R034, adopted June 22, 2020, the Council declared surplus and authorized the Chief Administrative Officer to seek proposals for the City-owned real estate known as 500 North 10th Street, with Tax Parcel No. E000-0235/001 in the 2025 records of the City Assessor, for the purpose of facilitating the sale and development of such parcel; and
WHEREAS, by Ordinance No. 2021-025, adopted on February 22, 2021, the Council directed the sale of such parcel to Capital City Partners, LLC for the purpose of facilitating the redevelopment thereof; and
WHEREAS, the City conveyed such parcel to Capital City Partners, LLC's affiliate, Project 10th Street Owner LLC, on July 15, 2021; and
WHEREAS, Project 10th Street Owner LLC failed to timely satisfy the development requirements imposed by the City as to such parcel; and
WHEREAS, Project 10th Street Owner LLC reconveyed such parcel back to the City on February 3, 2023; and
WHEREAS, in light of such reconveyance to the City, for the avoidance of doubt, the Council affirms that the said parcel is no longer necessary for public use and desires to, once again, declare such parcel as surplus real estate;
NOW, THEREFORE,
THE CITY OF RICHMOND HEREBY ORDAINS:
? 1. That the City-owned real estate known as 500 North 10th Street, consisting of approximately 3.010 acres and identified as Tax Parcel No. E000-0235/001 in the 2025 records of the City Assessor, is hereby declared surplus real estate and directed to be conveyed to the Economic Development Authority of the City of Richmond for nominal consideration for the purpose of fac...
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