City of Petersburg City Council Work Session Agenda April 2025
Amended Development Deal Extends PA with ECIMED-1 LLC
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Description
The City of Petersburg amended its development agreement with ECIMED-1, LLC for 101 W. Washington Street, extending due diligence to June 15, 2025, and clarifying contingencies before closing the property sale.
Contract Details
Vendor
ECIMED-1 LLC
Agency
City of Petersburg, VA
Contract Type
FACILITIES
Document Date
April 1, 2025
Contract Term
Due Diligence Period extended to June 15, 2025; Closing within 90 days after expiration of due diligence period
Renewal Date
2025-09-13
Renewal Info
Due diligence period extended; contract now expires June 15, 2025, with closing required within 90 days. Original agreement ratified and confirmed except as expressly amended.
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