Sitting as the city’s Community Redevelopment Agency, city council members approved the deal Thursday.
“I’ve believe we’ve negotiated the best price we can,” Bob McDonaugh, the city’s chief of economic development, told council members.
McDonaugh said the city has spent four years negotiating with the land owners. The final price was more than the city wanted to pay, but, when the site was added to a piece donated by developer Ken Stoltenberg, the cost averaged out $40 per square foot, which is what the city had budgeted, McDonaugh said.
Source: The Tampa Tribune