Sponsor: City Manager’s Office Reducing a revenue estimate and appropriation in the amount of $4,166,667.00 within the General Obligation Series 2022A Question 1 Fund originally established for the Promise Place housing project; estimating and appropriating surplus TIF revenue in the amount of $1,100,000.00 from the anticipated termination of the Blue Ridge Mall TIF Plan and providing for an additional appropriation from the Shared Success Fund for the Promise Place housing project; restating the City Manager’s authorization to execute an agreement with the Promise Place, LLC for utilization of funds appropriated herein; modifying the timeline for substantial completion of the project; and recognizing this ordinance as having an accelerated effective date. Finance Committee recommends “Advance and Do Pass.”

What this record is

Held by

Promise Place, LLC

Amount

$4.17M

Runs until

Not stated in the agenda text — the term is normally in the signed agreement, attached to the original item ↗

Type

contract

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Read automatically from the title of the official record. The source document below is authoritative.

Committee

Council

Introduced

April 21, 2026

On agenda

May 14, 2026

Passed

May 14, 2026

Where it was heard

Council May 14, 2026 Passed Pass Finance, Governance and Public Safety Committee May 12, 2026 Adv and Do Pass Finance, Governance and Public Safety Committee May 5, 2026 Hold on Agenda Council Apr 23, 2026 referred

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