Town of Garner Pursues Master Development Agreement with LMG Garner LLC
Town of GarnerCity · Garner, NC- Disclosed value
- More than $9,000,000 (projected cost); property purchase price is $100,000 or appraised value, whichever is higher
- From agendapacket
- Document date
- Jul 30, 2024
The 30-second brief
The Town of Garner is finalizing a Master Development Agreement with LMG Garner LLC to develop a mixed-use project featuring 24 residential units and 10,000 square feet of retail space in downtown Garner. The agreement includes the sale of approximately 0.75 acres for the greater of $100,000 or the appraised value, with construction anticipated to be completed by January 31, 2026. At least three units will be designated as workforce housing under the terms of the agreement.
Lmg Garner LLC holds this contract with Town of Garner.
Term as filed: Effective date July 2024; Closing Date no later than January 15, 2025; construction completion target January 31, 2026.
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Contract details
- Amount
- More than $9,000,000 (projected cost); property purchase price is $100,000 or appraised value, whichever is higher
- Document date
- July 30, 2024
- Term
- Effective date July 2024; Closing Date no later than January 15, 2025; construction completion target January 31, 2026
- Vendor
- Lmg Garner LLC
- Agency
- Town of Garner
- Source document
- Town of Garner Work Session Meeting Agenda Packet July 2024 (AgendaPacket)
Lmg Garner LLC's other public contracts
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Questions about this contract
Who was awarded the government contract by Town of Garner?
Lmg Garner LLC was awarded this government contract by Town of Garner, as recorded on July 30, 2024. The contract value is More than $9,000,000 (projected cost); property purchase price is $100,000 or appraised value, whichever is higher.
How much is the Lmg Garner LLC contract with Town of Garner worth?
The Lmg Garner LLC contract with Town of Garner is valued at More than $9,000,000 (projected cost); property purchase price is $100,000 or appraised value, whichever is higher.
What type of contract is this?
This is a government contract, documented as a agendapacket record.
Where was this contract approved?
This contract appears in Town of Garner Work Session Meeting Agenda Packet July 2024 (AgendaPacket), dated July 30, 2024 from Town of Garner. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Lmg Garner LLC hold?
Lmg Garner 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 Town of Garner currently buying?
Explore Town of Garner's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.