As reported today, on Monday the Chapel Hill Town Council will be voting on a memorandum of understanding with Ram Development for our downtown redevelopment project. For those of us on the negotiating team, it has been a fascinating and educating experience. We were capably assised in this complex negotiation by Charlotte real estate attorney Glen Hardymon.
The town web site has a nice set of documents (scroll down) that lay out the process and what the parties asked for and what we agreed on. The most significant thing that the town got was a fixed price for our own investment. It's going to be quite an interesting process to get from here through the final design stages to the point of seeing it rise up out of the ground.