January 13, 2015
Tuesday, January 13th, 2015
Details
I. Call to order
II. Approval of minutes from the meeting held November 11, 2014
III. Finance Reports
IV. Consideration of the request from THG Court, LLC, for refinancing of the property commonly known as the Spring Hill Suites Hotel, located at the southwest corner of Main and Court Streets, Memphis, Tennessee; explanation of request; authorization of execution of necessary documents; and consideration of any other matters in connection therewith. Refinancing Request - THG Court LLC
V. Consideration of the request from South Junction Partners for refinancing of the property commonly known as South Junction Phase I, located at the corner of Georgia Avenue and Florida Street, Memphis, Tennessee; explanation of request; authorization of execution of necessary documents; and consideration of any other matters in connection therewith. Refinancing Request - South Junction Partners
VI. Consideration of the request for assignment of PILOT lease agreement for the property located at 50 North Front Street, Memphis, Tennessee; explanation of request; authorization of execution of necessary documents; and consideration of any other matters in connection therewith. Lease Agreement Request - 50 North Front Street
VII. Consideration of resolutions authorizing the issuance and sale by the Memphis Center City Revenue Finance Corporation of not to exceed $2,000,000 Qualified Energy Conservation Bonds, Series 2015 (Cook Convention Center Project), for the purpose of financing certain energy conservation installations and improvements to the Cook Convention Center located at 255 North Main Street, Memphis, Tennessee; authorization of execution of necessary documents; and consideration of any other matters in connection therewith. Bond Application
VIII. Project Introduction and Discussion - Tennessee Brewery Redevelopment:
495 Tennessee LLC will present its conceptual proposal for redeveloping the historic Tennessee Brewery Building located at 495 Tennessee Street. The project as proposed will include the renovation of the current building into residential units, the ground up construction of an adjacent residential building, and a new parking garage with groundfloor commercial space to be built directly across the street. The proposed project includes approximately 142 residential units, approximately 8,000 square feet of commercial space, and a 280-space public parking garage. The total development cost is estimated to be $27,525,000. As design plans, development costs and further financial analyses are being finalized, the developer and DMC staff will continue working together to determine the terms of a proposed private-public partnership necessary to make this a financially viable project, and the developer and DMC staff expect to present such terms to the CCRFC at a later date.
IX. President’s Report
X. Adjournment