May 2023: A new development agreement for the redevelopment of the county-owned block in Downtown Wilmington bounded by Chestnut, Grace, Second and North Third streets was presented to the New Hanover County Board of Commissioners at its meeting on Monday, May 15. Following a public hearing, Commissioners unanimously voted to approve the new agreement.
May-August 2023: Staff and the development team finalized the design plans and the construction project was put out for bid in May. Then, a revised development agreement that incorporated the results of the bid process with final financials was presented to Commissioners and approved at the.
A public hearing on the debt issuance was held at the Board of Commissioners' August 21 regular meeting and can be viewed here. At the meeting, the Commissioners adopted a resolution authorizing the debt issuance application to be presented to the Local Government Commission for the revised development agreement.
September 2023: Commissioners and staff joined the Local Government Commission at its September regular meeting to discuss the project application, history, scope and debt issuance. The LGC will vote on the debt issuance at its October meeting.
October 2023: After approval from the Local Government Commission at its October 3 meeting, the redevelopment of the county-owned block will begin in the coming weeks.