city_council_agenda_november_2025.pdf
City Considers Amendment to NOVI Housing Agreement
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Description
The City of Concord will consider amending its Economic Development Agreement with NOVI to formalize a requirement that 10% of units be reserved as affordable housing and to add compliance reporting obligations. The amendment designates the workforce housing component as a material term whose breach would constitute breach of the entire agreement.
Contract Details
Vendor
NOVI
Agency
City of Concord city, NC
Contract Type
OTHER
Document Date
November 13, 2025
Renewal Info
Amendment adds affordable housing percentage requirements, defines floating units across three buildings, and imposes reporting obligations on rental amounts, type, and location of workforce housing units.
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