City appraisal $2.88M
Developer appraisal $2.6M
So, FMV = $2.74M
Developer wants to break ground in the fall
$200,000 in tenant relocation
Transportation Demand Management plan to reduce SOV trips
Student work opportunities
Preferred rates for CU
Community access to grounds
City's is 6-8 months old; developer's was in the spring of 2020
Gehr: "What we've agreed to right now is a price. Frankly there's risk on both sides to that price. Things could go up or down."