Recommend acceptance of the proposal and award of the sale to the highest responsible proposer, Geyer Morris Company, and authorization for the City Manager to execute associated contracts and closing documents.

In 2012, the City of Savannah acquired the property for $3,000,000.00 in order to develop a new headquarters for the Savannah-Chatham Metropolitan Police Department. During the September 29, 2016 Council meeting, the property was declared surplus and made available for sale. A request for proposals was issued to invite proposals for the property, provide due notice to the public, and state the conditions associated with the sale. This included a deed restriction against hotel-motel development.

The property was aggressively marketed via several forms of media. The request closed on February 28, 2017. Eleven qualified proposals were evaluated by a five-member inter-disciplinary committee. Geyer Morris, a well-qualified and experienced real estate development company based in Atlanta, proposed the following:

• Acquisition price of $5,000,000.00.
• Development with a multi-story, mixed-use project that includes ground floor retail and restaurant uses, a parking garage (including 50 spaces available for use by the SCMPD at no charge to the City), and upper floor residential units. The residential units are proposed as apartments, though some for-sale condominiums may also be included. The proposer has agreed to restrict against short-term vacation rentals. 
• The project will produce significant tax and economic development benefits to the City.
• Approximate two-year project acquisition and development schedule.  

Approval