On Tuesday, the Concord City Council will hold a study session on the draft term sheet regarding the development of the concord Naval Weapons Station.
Brookfield is preparing a conceptual land use plan and conceptual financial proforma as the basis for a Term Sheet to be negotiated with staff and accepted by the Local Reuse Authority (LRA) at a future meeting.
This study session provides the City Council and public the opportunity to hear and comment on Brookfield’s thinking about a conceptual land use plan that can translate the adopted Area Plan into a successful Specific Plan. Brookfield will also map out their current and future community outreach efforts.
The LRA team and Brookfield are in the process of negotiating the business terms of the Term Sheet. The conceptual land use plan serves as the basis for determining the numbers (acreage/units/square footage) and dollars (revenue/costs) that drives the conceptual financial proforma demonstrating a project that works. The Council’s input at this Study Session on the conceptual land use plan will help both the LRA team and Brookfield return with an acceptable Term Sheet for future City Council consideration. Staff anticipates returning to Council with a Term Sheet on January 16, 2024.
After the meeting on November 14, LRA and Brookfield staff will complete the negotiation of the Term Sheet with the goal of releasing it to the City Council and public by January 2, 2024 for consideration by the City Council at a special meeting tentatively set for January 16, 2024
Supporting Documents:
- Concord City Council – November 14, 2023 Agenda Packet
- Agenda Staff Report for – STUDY SESSION ON TERM SHEET
- Supporting Document for – – Attachment 1 – LRA-Brookfield ENA Diagram
- Supporting Document for – – Attachment 2 – Brookfield Presentation
Concord City Council Meeting
Tuesday, November 14
6:30 pm
1950 Parkside Drive, Concord CA
Full Agenda, click here
Previous Stories:
- Aug 26 – Concord Selects Brookfield Properties as Developer for Base Reuse Project
- Aug 16 – HAP Withdraws from concord Naval Weapons Station, Grand Jury Report Also Out
