City Of Concord: Council Selects Master Developer For Base Reuse Project

Press release from the City of Concord:

October 27, 2021

The Concord City Council sitting as the Local Reuse Authority approved the Exclusive Negotiating Agreement with Concord First Partners, LLC, making them the new master developer for Concord’s Base Reuse Project.

In a unanimous vote just after midnight on Oct. 27, the Council approved the agreement, which lays out the terms and timeframes that the parties will abide by in this process as they work toward developing the project’s specific plan.

Following two hours of public comment, the Council directed City staff to finalize the agreement with the Concord First team, a development group comprised of Discovery Builders, Lewis Concord Member, LLC and California Capital and Investment Group.

In the next phase of the development process, Concord First Partners will prepare conceptual land and financial plans to support the proposed “term sheet,” a document that establishes procedures and standards for the negotiation and drafting of a comprehensive proposed Disposition and Development Agreement. The City Council/Local Reuse Authority is expected to consider these plans and the proposed term sheet in a public meeting in the spring of 2022.

This press release was produced by the City of Concord. The views expressed here are the author’s own.