This City-owned real property was declared surplus and available for sale by the Mayor and Aldermen of the City of Savannah on August 31, 2017.  Staff issued a Request for Proposals (RFP) soliciting proposals and sealed bids from the public for sale of the Property on March 20, 2018.  The solicitation for RFPs closed on June 19, 2018, and one proposal and sealed bid was received from Columbia Ventures, LLC.  The proposal involved redevelopment of the Property with uses that include a hotel with restaurant, bar, and other amenities (the “Proposed Use”).  The Mayor and Aldermen awarded the sale of property to Columbia Ventures on August 16, 2018, and the contract governing this sale was finalized and executed on November 19, 2018.

Subsequent to the Mayor and Aldermen accepting Purchaser’s proposal, awarding the sale of the Property to Purchaser, and entering into the Agreement governing that transaction, Section 8 – 3030 of the City Code of Ordinances was amended before the Purchaser could finalize and submit its design and construction plans for the Property and Proposed Use.  The changes significantly impacted Buyer’s plans for the property.  Therefore, the Second Amendment grandfathers and exempts the property and project from the subsequent revisions to Section 8 – 3030 of the Code of Ordinances; the closing date has been extended fifteen days to no later than 2:00 p.m. on June 19, 2019; and Buyer will deposit an additional $50,000 of non-refundable earnest money as security associated with this transaction.

Approval