Board Reviews 7th & Tryon Master Development Terms
Mecklenburg CountyCounty · Charlotte, NC- Disclosed value
- $21,500,000 purchase price; $3,182,557 demolition reimbursement; $3,000,000 below-market housing contribution
- From minutes
- Document date
- Mar 1, 2022
The 30-second brief
Mecklenburg County reviewed proposed Master Development Agreement terms with BP Metropolitan NC, LLC for the 7th & Tryon redevelopment, including a $21.5 million land sale, demolition reimbursement, and a $3 million contribution to below-market housing. Formal authorization to execute the agreement and related documents will be brought to the Board at a subsequent meeting.
Bp Metropolitan Nc LLC holds this construction contract with Mecklenburg County.
Term as filed: Property closing expected within 6 months after MDA execution; Tax increment grant reimbursement term 15 years starting approximately 2026.
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Contract details
- Contract type
- Construction
- Amount
- $21,500,000 purchase price; $3,182,557 demolition reimbursement; $3,000,000 below-market housing contribution
- Document date
- March 1, 2022
- Term
- Property closing expected within 6 months after MDA execution; Tax increment grant reimbursement term 15 years starting approximately 2026
- Vendor
- Bp Metropolitan Nc LLC
- Agency
- Mecklenburg County
- Source document
- mecklenburg_county_board_of_county_commissioners_m.pdf (Minutes)
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Questions about this contract
Who was awarded the construction contract by Mecklenburg County?
Bp Metropolitan Nc LLC was awarded this construction contract by Mecklenburg County, as recorded on March 1, 2022. The contract value is $21,500,000 purchase price; $3,182,557 demolition reimbursement; $3,000,000 below-market housing contribution.
How much is the Bp Metropolitan Nc LLC contract with Mecklenburg County worth?
The Bp Metropolitan Nc LLC contract with Mecklenburg County is valued at $21,500,000 purchase price; $3,182,557 demolition reimbursement; $3,000,000 below-market housing contribution, covering construction work.
What type of contract is this?
This is a Construction contract, documented as a minutes record.
Where was this contract approved?
This contract appears in mecklenburg_county_board_of_county_commissioners_m.pdf (Minutes), dated March 1, 2022 from Mecklenburg County. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Bp Metropolitan Nc LLC hold?
Bp Metropolitan Nc 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 Mecklenburg County currently buying?
Explore Mecklenburg County's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.