Following approval by the Contracts Committee and then a public hearing the full City Council Monday night at Geraldine Johnson School will take up New York-based Exact Capitol’s $410 million proposal to resurrect two shuttered Downtown theaters as well as building more than 800 housing units occupying nearby streets including two residential towers to become the tallest buildings in the central business district. See agenda here.
The agenda item is grouped under the consent calendar “Contracts Committee Report re: (Ref. #88-16) Resolution Authorizing a Land Development Agreement (“LDA”) for the Downtown Theatre Buildings and Adjacent Vacant Properties” but will likely be pulled out for discussion.
During the public hearing, attended by more than 100, speakers urged the council to adopt a Project Labor Agreement similar to other city projects such as Bass Prop Shops on the East Side. A PLA was not part of the LDA with the developer.