Title
Resolution to Approve an Agreement for the Sale of Air Rights Over the Library Lot to the Ann Arbor District Library (8 Votes Required)
Memorandum
Per Resolution R-25-140, City Council authorized the City Administrator to negotiate the sale of air rights over the City property at 319 S. Fifth Ave. and 326 S. Division St. (commonly known as the Library Lot) to the Ann Arbor District Library (AADL) after approval by the voters of City Charter amendments authorizing the sale.
AADL's stated intent is to construct (with its own development partners) a mixed use project consisting of two connected buildings, one on the current AADL parcel and one on the Library Lot respectively. The project is proposed to include a new library, a mix of housing, including market rate units, condos, and some affordable units, and outdoor public space on the ground level of the Library Lot parcel. The City would continue to operate the subsurface parking structure on the Library Lot.
This resolution approves a purchase agreement for the sale of air rights between the City and AADL which sets forth the conditions for closing. The air rights being conveyed generally consist of the air space from grade level up to 260 feet above the surface of the parking structure north of Library Lane. The height is the maximum allowed height under D1 zoning (including the possible height bonus for including affordable housing or sustainability components, provided the applicable code requirements are met). The Purchase Agreement also sets forth the parameters of an Easement, Development, and Construction Agreement (EDCA), which the parties will enter into prior to closing and which will govern the development process, requirements, and timeline going forward as AADL seeks a development partner, obtains necessary approvals, and commences construction of their proposed mixed use project.
This resolution authorizes the City Administrator to negotiate and finalize terms of the EDCA and any other in...
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