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.”

This ordinance declares the City-owned real estate at 500 North 10th Street (approximately 3.010 acres, Tax Parcel No. E000-0235/001) as surplus. It directs the conveyance of this parcel for nominal consideration to the Economic Development Authority (EDA) of the City of Richmond. The purpose is to facilitate the redevelopment of this parcel as part of a larger transit-oriented, mixed-use project known as “City Center.” This action follows a previous sale and subsequent reconveyance of the property back to the City due to the developer's failure to meet requirements. The ordinance directs the Chief Administrative Officer to execute the necessary documents for the conveyance.

This action is a step towards the redevelopment of the City Center area, which is planned to include a transit-oriented, mixed-use project. Residents can anticipate future development at 500 North 10th Street that may include new housing, retail, and improved transit facilities.

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