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From YouTube: City of Charleston Committee on Real Estate 2/8/2021
Description
City of Charleston Committee on Real Estate 2/8/2021
A
All
right
well
great,
so
we're
going
to
go
ahead
and
call
this
meeting
or
I've
got
a
couple
of
court
hearings.
I
got
to
jump
off
on
when,
when
we
finish
with
this
marine,
so
I'm
going
to
call
the
to
order.
The
real
estate
committee
meet
committee
meeting
for
this
monday
at
two
o'clock
in
the
afternoon,
and
I
have
the
privilege
of
starting
off
us
off
with
an
invocation,
so
give
me
your
attention
for
a
few
seconds.
I'm
almighty
god.
We
ask
your
blessings
today.
A
A
Know
a
second
second,
all
right,
all
those
in
favor
say
hi
any
of
those
guys
have
it
all
right.
So
the
first
item
of
business
is
with
this
extension
of
a
lease
with
the
american
university
of
south
carolina
and
I
think
matt
you're
going
to
leave
us
in
the
discussion
of
that.
D
Oh
wait
is
peter
rasco
on
the
line.
Peter,
do
you
want
to
go
and
take.
E
E
So
they
have
proposed
a
three-year
lease
beginning
on
june,
the
first
of
this
year
with
two
one-year
options
to
renew,
and
they
will
be
at
the
rate
of
five
dollars
and
two
cents
of
space
per
month,
which
turns
out
to
be
six
hundred
and
seventeen
thousand
four
hundred
ninety
four
dollars
on
thirty
two
cents
annually
there
is
a
increa
annual
increase
built
into
the
lead
to
the
rent
at
a
three
percent
cap
of
cpi
each
year
after
the
first
year
is
over.
E
So
that
is
the
proposal
from
musc.
The
an
ordinance
has
been
drafted
by
chip.
I
believe
it
goes
along
course.
It's
a
three
year
lease,
so
the
council
would
need
to
adopt
an
ordinance
if
you
want
to
adopt
the
lease.
A
A
C
C
C
F
A
F
Can
what
was
the
rate
before
this
lease
expired?
The
previous
release
expired.
E
F
I
understand
a
slight
decrease,
but
then
we're
going
to
be
carrying
it
out
for
three
years.
I
don't
think
we
carry
that
out
three
years,
so
I
propose
keeping
it
the
same.
F
E
Basically,
the
rationale
is
that
that
there's
1143
spaces
we've
got
a
built-in
user
for
it
who's,
jumping
to
take
it
all
the
time.
So
that's
basically
what
it
was.
I
I
hear
you
about
it
going
down,
that's
what
they
put
it
out
for
bid.
I
mean
for
proposal
and
we
we
proposed
and
that's
what
it
came
back
at
when
they
they
made
the
proposal
out.
F
I
understand
that
I
understand
what
they're
trying
to
do,
I'm
talking
about
from
the
prospects
from
the
city.
I
understand
keeping
things
competitive
and
I
think
keeping
it
at
the
price
that
it
was
certainly
keeps
it
competitive.
You
know
piece
about
putting
a
three
percent
cap
on
it
from
an
escalator
standpoint
I
mean
who
are
we
fooling?
We
getting
less
dollars
for
three
years
than
we
got
the
previous
lease
was
how
long
five
years
so
we're
going
to
be
a
lesser
dollar
for
the
next
three
years
than
we
received
the
previous
five
years.
F
That's
only
going
to
make
our
budgeting
process
going
forward
more
difficult,
even
when
the
economy,
hopefully
a
year
from
now
to
come,
is
going
to
be
a
lot
better
than
it
is
today
and
it's
beginning
to
improve
as
more
people
get
shots
and
arms,
the
economy
will
begin
to
open
up
parking
will
begin
to
hopefully
come
back
online,
but
a
dollar
in
hand.
Today
is
worth
more
than
a
dollar
hand
tomorrow
and
we're
not
even
getting
the
dollar
we
got
five
years
ago.
E
Councilman,
I'm
wearing.
I
I
need
to
correct.
E
E
G
E
Sir,
it
started
out
five
years
ago
at
forty
dollars
of
space
and
increased
up
to
forty
five
dollars
and
two
cents.
F
G
So
the
other
question
I
have
peter
and
matt.
Whoever
knows
don't
we
garner
some
additional
income
from
this
lot
when,
when
baseball
season,
rentals
happen
and
and
other
rentals,
don't
we
have
the
flexibility
with
musc
to
to
earn
more
on
the
on
those
spaces
when
they're
not
using
them.
E
D
Mayor
to
answer
your
question,
the
there
is
language
in
the
lease
with
musc
that
peter's,
describing
that
has
there
can
only
be
a
maximum
of
150
cars
on
certain
hours
of
the
day.
That
ties
to
language
that
that
is
in
the
lease
agreement
with
the
river
dogs
for
their
use
of
the
parking
lot
during
certain
hours.
A
D
I
need
to
look
at
the
exact
term
and
no,
they
pay
us
around
160
000
right
now.
If
I
remember
correctly,
I
can
get
you
the
exact
number
it's
on
until
like
2032.
Currently
it
goes
up
each
year,
but
they
pay
us
for
rights
to
use
the
lot
during
certain
hours.
It's
kind
of
that
built-in
down
time.
We
have
with
the
musc
lease
they.
They
sometimes
obviously
have
free
parking.
I
think
sunday.
Sometimes
they
do
free
parking
as
a
benefit
to
bring
people
to
the
ballpark,
otherwise
they're
usually
doing
their
five
dollar
collection.
D
G
No,
no,
I
I'm
just
listening
and
and
it's
good
that
we're
in
addition
to
the
musc
payment
that
we're
getting
that
that
extra
money
and-
and
I
was
gonna-
maybe
explore
well
gee
what
if
they
had
more
nights
or
more
events,
but
of
course,
you'll
get
a
year
like
we
had
in
the
last
year.
They
didn't
have
any
events
today
and
they
did.
They
still
pay
us
150
grand.
D
G
Yeah,
okay,
so
it
can
that
sword
can
swing
both
ways
but
anyway,
that
that
makes
the
rate
to
musc
make
a
little
more
sense
to
me
because
of
of
that
additional
income
and
arrangement.
Could
we
max
it
out
a
little
more?
Maybe,
but
you
know
it's
just
a
gravel
surface
lot:
it's
not
like.
We
pave
it
or
who
who's
responsible
for
the
maintenance.
If,
if
there's
potholes
or
or
gravel,
that
needs
to
be
brought
in.
F
A
I
will,
I
will
say,
councilmember
wearing
that
finding
a
parking
spot
on
the
peninsula
of
charleston
for
45
dollars
is
a
really
good
deal,
because
it
is
usually
anywhere
from
100
to
120
150
a
lot,
but
this
is
over
a
thousand
spaces.
So
I
I
would
feel
bad
if
we
were
charging
the
maximum
rate
and
those
are
usually
paved
lots
as
well.
So
right
now,
I'm
good
I'm
good
yeah
and.
F
And
I
I
would
suspect
next
year,
sometimes
oh
later
on
this
year,
stony
field
should
be
coming
online
and
probably
gonna
maybe
have
some
spill
over
there
when
events
start
to
take
place
at
at
stoney
field,
because
even
in
when
wildlife
expo
comes
back
next
february,
I
would
suspect.
Stony
field
would
probably
have
a
role
there
to
play.
You
know
with
all
the
things
that
happened
down
in
brittleback
park
and
and
that
parking
lot.
Hopefully
we
get
to
use
that
parking.
F
You
know
on
the
weekends,
do
we
in
in
february,
mr
rosco?
Do
we
get
to
use
that
service
parking
during
the
weekend
and.
F
Okay,
great
yeah,
so
see,
I
think
we
have
additional
uses
going
forward
in
the
next,
if
not
three
years,
certainly
in
the
next
two,
you
know
a
year
out
from
now
years,
two
and
three
so.
G
I
hate
to
belabor
it,
but
with
that
point
from
councilmember
waring
is
our
agreement
with
the
river
dogs
exclusive
or,
if
they're
not
having
a
ball
game
and
we're
doing
something
else
at
stoney
or
brittlebank
park.
Do
we
get
to
use
the
lot
or
income
from
it.
G
H
A
The
oppose
oh
hi
die.
Senator
all
right
item
b
is
a
low
line.
Housing
lp
lease
for
60
years
in
giona.
Are
you
still
with
us
yeah
there?
You
are.
I
Sorry
to
interrupt,
I
just
have
to
recuse
myself
from
this
matter
due
to
a
conflict.
Just
wanted
to
note
note
that,
for
the
record.
J
Sure,
councilmember,
shahid
and
members
of
real
estate,
this
is
a
option
to
lease
and
a
ground
lease
with
low
li
low
line
housing
lp.
This
group
was
a
part
of
the
responsive
bidders
that
we
that
responded.
Excuse
me
to
an
rfp
that
the
city
put
out
for
the
construction
of
housing
near
near
our
future
low-lying
property,
but
on
the
city's
parcel
that
we
have
described
on
your
form,
and
so
what
you
see
here
is
an
option
to
lease
and
a
ground
lease
for
60
years.
J
The
goal
is
to
build
55
units
of
affordable
rental
housing
for
persons
earning
thirty
percent
to
eighty
percent
of
the
area,
median
income.
So
please
note
that
correction.
I
know
on
the
form
I
have
fifty
to
eighty,
but
it's
in
fact
thirty
percent
to
eighty
percent
of
the
area,
median
income,
and
we
had
when
we
put
out
this
rfp
through
our
procurement
department.
J
We
had
three
proposals
come
to
us:
each
had
to
submit
a
request
both
under
the
four
percent,
as
well
as
nine
percent
low
income
housing
tax
credit
threshold.
This
organization
is
seeking
to
submit
an
application
to
state
housing
on
next
week.
So
we're
really
excited
that
we
have
this
organization
that
has
come
forth.
Nhe
is
the
actual
name
of
the
entity.
J
Low
lot
low
line,
housing
lp
inc
is
the
entity
that
will
pursue
the
tax
credits
as
well
as
construct
the
affordable
housing
on
this
site,
as
well
as
conduct
some
parking
and
other
infrastructure
improvements
that
are
necessary
for
this
property.
So
we
certainly
ask
your
approval
of
this
item.
A
A
G
C
J
C
A
That
would
not
exclude
us
from
for
them
to
continue
leasing
it
out.
J
No
sir,
whatever
the
city
deems
appropriate,
we
entered
into
a
similar
agreement
in
the
cooper
river
bridge
redevelopment
area
where
the
james
lewis,
jr
apartments,
are
being
built.
A
similar
scenario
across
the
board
council
indicated
a
few
years
ago
that
it
wanted
its
properties
back
because
we
were
giving
you
know
transferring
properties
without
the
benefit
of
that
long-term
affordability.
So
this
gives
us
the
ability,
if
we
own
it,
to
dictate
how
long
it
remains
affordable,
and
so
yes,
sir,
we
we
get
that
property
back.
C
Yeah,
thank
you
I
just
what
do
you
know
about?
The
you
said
it
was
nag
is
the
name
of
the
the
whole
company
or
the
main
organization.
Yes,.
J
Ma'am
they
are
out
of
the
upstate.
They
have
been
quite
successful
in
pursuing
low
income,
housing
tax
credits.
This
would
be
one
of
the
first
that
they
have
done
in
the
low
country,
but
I
think
out
of
the
last
round
of
tax
credit
deals.
They've
received
eight
awards
out
of
ten,
and
so
they
have
a
good
history.
They
have
a
team,
that's
assembled
both
locally,
as
well
as
from
the
upstate
working
on
this
proposed
development
and
the
team.
J
B
C
I
just
have
one
little
follow-up,
then
you
know
I'm
totally
happy
to
take
the
procurement
committee's
recommendation.
Is
it?
Is
it
our
understanding,
then,
or
is
there
any
stipulation
about
the
the
term
of
the
60
years?
Will
they
continue
to
operate
or
do
they
have
the
ability
to
pass
it
on
transfer
owner
upper
or
just
operator
status
to
another
entity?.
J
So,
at
the
end
of
the
60
years,
the
units
would
come
back
to
the
city
of
charleston
and
then
the
city
would
determine
whether
they
want
the
low
line,
housing
lp
organization
to
do
it
or
if
they
want
the
crc
to
do
it
or
if
they
want
humanities
foundation,
to
do
it.
That
is
up
to
the
city.
At
that
point,
to
make
that
determination
and.
C
J
Based
on
this
agreement,
they
would
be
the
sole
operator
should
they
deem
it
appropriate
during
that
time
to
sell
or
not
to
sell,
but
to
bring
in
another
lessor.
Then
that
would
have
to
come
back
to
council
because
it
would
have
to
be
approved
by
you
all.
They
would
whomever
that
entity
is.
They
would
still
have
to
agree
to
all
of
the
requirements
that
are
set
forth
in
the
ground.
Lease
agreement.
C
A
But
hopefully
somebody
else
much
younger
than
us
will
be
able
to
handle
that
I'll
call
the
question
all
those
in
favor
of
this
say:
aye
aye.
A
All
right,
I
think
mr
mcqueen
is
going
to
take
up
item
number
c
for
us.
This
is
taking
some
land
off
of
the
stockton
department
of
transportation.
I
Yes,
sir,
and
I'm
going
to
share
my
screen
real,
real
quick.
This
is
basically
just
authorization
for
the
mayor
to
accept
0.31
acres
from
scdot.
I
The
acreage
is
shown
on
the
highway
plans,
which
are
right
here.
If
you
see
this
little
area
in
a
little
bit
different
color
right
here,
the
plan
is
to
move
affordable,
housing
onto
it
or
construct,
affordable
housing
on
it,
and
that's
that's
pretty
much.
It
there's
two
outstanding
issues.
One
is
there's
a
what's
called
the
right
of
reentry,
which
is
close
to
a
possibility
reverter
in
the
deed,
from
d.o.t
that
we're
trying
to
work
out
the
language
to
make
sure
everything's.
I
Okay,
as
far
as
you
know,
the
the
affordable
housing
element
and
then
the
environmental.
Once
you
take
title
to
property
you're
stuck
with
the
environmental
liabilities,
unless
you
get
a
vcc
beforehand,
so
we're
making
sure
that
all
the
environmental
is
taken
care
of
before
we
actually
accept
title
to
the
property.
J
So
councilmember
shaheed,
originally
we
were
planning
to
relocate
two
houses
over
here
and
those
houses
contained
two
apartments.
Each
and
right
now
we're
evaluating
if
we're
constructing
what
that
will
look
like.
So
I
don't
have
a
definitive
answer
for
you.
J
A
This
just
goes
to
show
you
how
we
can
increase
our
inventory
of
affordable
housing
on
the
peninsula.
This
incremental
improvements
55
units
on
one
project.
If
we
get
four
to
six
on
another
we're
just
making
sure
our
inventory
is
well
stocked,
and
I
appreciate
the
work
our
staff
has
been
doing
all
that.
Yes,
sir,
mr
mayor.
G
J
J
G
So
I'll
be
honest
with
you,
it
might
make
it
look
like
it
was
right
in
the
center
of
the
lot,
so
it
might
make
the
development
a
little
challenging.
You
know
regardless
it
it.
It
looks
like
a
little
park
feature
you
know,
as
people
were
coming
in
the
city,
so
I
mean
I
certainly
hope
we
can
locate
a
couple
of
units
of
housing
there.
But
if
not,
I'm
happy
to
have
the
property
from
d.o.t
and
keep
it
for
park
and
or
affordable
housing.
G
And-
and
I
know
you
you-
you
say
it
might
have
taken
them
a
while,
but
I
think
this
request
was
made
about
six
or
12
months
ago,
and
you
know
we
just
got
one
from
them
at
our
last
meeting
that
took
about
20
years.
So
this
one's
pretty
fast.
I
The
environmental
was
always
a
hold
up
in
this
area.
Unfortunately,
yes,
sir,
and
I
mean
we,
we
received
a
lot
of
these
properties
in
this
loop
as
part
of
the
mitigation
agreement
in
2005
the
same
one
related
to
the
coop
river
bridge
redevelopment
area.
I
So
whether
it's
a
park
I
mean
it
can
serve
affordable
housing
that
way
and
dots
deed
as
written
just
requires
us
to
use
it
for
a
public
purpose.
So
you
know
to
the
extent
it
doesn't
become
viable
for
affordable
housing,
you're
correct
it
could
be
a
park
area
for
this
development
or
allow
us
to
move,
affordable
housing
unit
or
affordable
housing
somewhere
else,
or
something
like
that.
So
all
right.
F
Just
curious,
can
you
tell
me
how
big
it
is
again,
mr
mcqueen,
it's.
I
A
F
A
Just
the
second
okay,
any
further
discussion
or
questions
about
this
property.
I
don't
see
all
those
in
favor
say:
aye,
aye,
aye
any
opposed
nice.
Have
it
all
right.
I
was
getting
concerned
about
council
member
mattel's
push
for
indexation,
so
he's
back
in
the
you're
back
in
the
fold
last
item
number
d
for
the
following
annexation
of
on
parkway
drive
I'll,
entertain
a
motion
to
accept
this
annexation
request,
move
for
approval,
no
say
any
discussion.
F
H
Yes,
sir,
we
would
like
a
motion
for
an
executive
session
to
discuss
some
contractual
negotiations
related
to
99
west
edge
and
also
to
receive
some
legal
advice
related
to
that
matter.
B
All
right
give
us
just
a
second:
we've
got
to
pull
the
live
stream
off
and
then
velvet's
going
to
help
get
into
the
breakout
room.
Susan,
who
all
needs
yeah.
H
H
Let's
see
from
from
legal,
it
would
be
chip
and
myself
and
I
believe
we
need
matt
and
matt
fralick
matt.
Is
there
anyone
else
who
you
need
peter
I'd.
H
Lee
and
peter-
and
I
don't
know
if
rick
is
on
but
rick-
should
join
us
too.
All
right
give.