HomeMy Public PortalAbout1991_07_23_R165The Town of
Leesburg,
Virginia
RESOLUTION NO.
A RESOLUTION:
PRESENTED July 23, 1991
91-165 ADOPTED July 23, 1991
REJECTING THE PROPOSAL OF THE MICHAEL ROLBAND CO., INC. TO
DEVELOP TOWN-OWNED PROPERTY AT 6-12 LOUDOUN ST., S.W.
WHEREAS, in January, 1991, the town released a Request For Proposal to various development
£mns for the purpose of leasing and developing the in-fill space at 6-12 Loudoun St., S.W. fronting the
new parking garage; and
WHEREAS, the purpose of leasing and developing this property was to generate revenue for the
town, provide a screen for the south elevation of the parking garage, create economic development
downtown and generate parking demsnd for the new garage; and
WHEREAS, the town received one response to the RFP from The Michael Relband Co., Inc. for
the lease and development of the property; and
WHEREAS, after careful review and evaluation it has been determined that due to the current
condition of the local real estate msvket the economic viability of the project for the town and the
developer is questionable providing no incentive to continue with the project until such time as these
conditions improve:
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia that the proposal
received from The Michael Relband Co., Inc. to lease and develop 6-12 Loudoun St., S.W. is rejected and
the manager is authorized to return the $2,000 bid bond submitted with the proposal.
PASSED this 23rd day of July
~1991.
Robert E. Sevila, Mayor
Town of Leesburg
ATTEST:
Clerk of Coun¢i'l