On Tuesday, March 11, 2014, at its regular meeting, the City Council will consider an ordinance authorizing the sale of city land through an option agreement with the Virginia Beach Community Development Corporation
(VBCDC). The option agreement states that the city will sell the land to VBCDC if they are successful in obtaining the rezoning and the financing needed for the development.
The action under consideration by the City Council does not authorize the construction of a housing development on the site -- it merely sets the stage for the Council to consider whether to rezone the property for the housing development.
The actual City Council decision on the rezoning will come in several months, after the normal process of review by the Planning Commission. In addition, prior to that, VBCDC and the city will hold public meetings for everyone interested in the project.
A fact sheet on the project is available on the right under "Related Information."
For more information, please contact Karen Prochilo at the number and email address listed below, or Andrew Friedman at 385-5752 or firstname.lastname@example.org