City of Charlotte Awards Construction Contract to Crescent River District LLC (August 2023)
City of CharlotteCity · Charlotte, NC- Disclosed value
- Up to $25,000,000 (Tax Increment Grant reimbursement cap) plus up to $27,000,000 for Garrison Road North improvements, up to $900,000 for 16-inch water main (50 percent share), and up to $400,000 for Beaver Dam Creek trunk sewer (34 percent share)
- From agenda
- Approved
- Aug 28, 2023
The 30-second brief
Charlotte is expanding its River District Tax Increment Grant with Crescent River District LLC to $25 million and committing up to an additional $28.3 million in infrastructure reimbursements for Garrison Road North, water, and sewer improvements. The agreements support a major mixed-use River District buildout and the potential Beemok Sports tennis complex.
Crescent River District LLC holds this construction contract with City of Charlotte.
Term as filed: TIG: 15 years from first grant payment or until present value cap reached; infrastructure reimbursements paid across 2024–2028 bonds and five-year installment schedules for water/sewer.
See who signed off on this contract.
See who signed offFree account · 30-second setup · No credit card
Contract details
- Contract type
- Construction
- Amount
- Up to $25,000,000 (Tax Increment Grant reimbursement cap) plus up to $27,000,000 for Garrison Road North improvements, up to $900,000 for 16-inch water main (50 percent share), and up to $400,000 for Beaver Dam Creek trunk sewer (34 percent share)
- Document date
- August 28, 2023
- Term
- TIG: 15 years from first grant payment or until present value cap reached; infrastructure reimbursements paid across 2024–2028 bonds and five-year installment schedules for water/sewer
- Agency
- City of Charlotte
- Source document
- City of Charlotte Meeting Agenda 2023-08-28 (Agenda)
Crescent River District LLC's other public contracts
More City of Charlotte contracts
Questions about this contract
Who was awarded the construction contract by City of Charlotte?
Crescent River District LLC was awarded this construction contract by City of Charlotte, as recorded on August 28, 2023. The contract value is Up to $25,000,000 (Tax Increment Grant reimbursement cap) plus up to $27,000,000 for Garrison Road North improvements, up to $900,000 for 16-inch water main (50 percent share), and up to $400,000 for Beaver Dam Creek trunk sewer (34 percent share).
How much is the Crescent River District LLC contract with City of Charlotte worth?
The Crescent River District LLC contract with City of Charlotte is valued at Up to $25,000,000 (Tax Increment Grant reimbursement cap) plus up to $27,000,000 for Garrison Road North improvements, up to $900,000 for 16-inch water main (50 percent share), and up to $400,000 for Beaver Dam Creek trunk sewer (34 percent share), covering construction work.
What type of contract is this?
This is a Construction contract, documented as a agenda record.
Where was this contract approved?
This contract appears in City of Charlotte Meeting Agenda 2023-08-28 (Agenda), dated August 28, 2023 from City of Charlotte. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
Show 2 more questions
What other contracts does Crescent River District LLC hold?
Crescent River District LLC may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is City of Charlotte currently buying?
Explore City of Charlotte's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.