By Jennifer Eisenbart
Editor
A sale of the downtown land originally slated for a retail center in the 2008 redevelopment plan could be finalized Tuesday.
Burlington Core Group II, LLC and the City of Burlington are working out the details regarding compensation for environmental remediation in a contract that will go back before the Community Development Authority Tuesday at 5:30 p.m.
The Core Group has been trying to acquire the land for several years after plans for the space fell through on multiple occasions.
Architect Tom Stelling of the Core Group said the group’s offer was the only one received by the city – through a request for proposal process to encourage competition for the site – and the details of the final costs involved are being negotiated.
“It has to do with how much soil needs to be removed from the site,” Stelling said. “We’re trying to set up some parameters.”
Stelling said the Core Group is offering to handle the remediation – including the removal of the soil to a licensed landfill – in exchange for a reduction in the sale cost of the property.
“We’re still working out the details,” Stelling said.
L.F. Green Development, LLC, was hired by the city to do the original survey on the site and has been monitoring the site since, Stelling said.
The two parties are still working out the structure of credit for the remediation work that needs to be done during construction, and who will monitor the amount of contaminated soil on site.
City Administrator Carina Walters confirmed the first credit would be for $54,800 with appropriate documentation. If remediation costs more than that, the city and Core Group would split costs evenly up to another $15,200.
The maximum credit the city would offer would be $62,400, and any unused amount would be refunded to the city.
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