Fredericksburg City Council voted unanimously Tuesday, Oct. 25, 2016, to grant developer Mike Adams a certificate of appropriateness for his George Street Brownstones project, and a corresponding $300,000 performance agreement. This move means the law suits surrounding the project will be dismissed.
In 2015, Fredericksburg’s Architectural Review Board (ARB) approved Adams’ plan to build seven, four-story townhouses, but City Council voted 6 – 1 in November 2015 to suspend the ARB’s approval.
Adams’ company sued City Council, seeking to void their action.
City Council then filed a lawsuit against NBB, asking the court to dismiss the lawsuit. City Council also filed a lawsuit against the ARB, claiming citizens were not properly notified of the public hearing.
Adams’ company NBB offered City Council a settlement agreement, which included a redesign of the proposed townhomes, in exchange for a $300,000 economic incentive performance agreement. The revisions addressed concerns from City Council and city staff, with adjustments including:
– Reducing the number of units from seven to five.
– Reducing the height of the units by five inches, to 44 feet, four inches.
– Removing one of the stories of the units.
– Lowering the cornice.
– Providing a front yard on George Street, and a side yard on Charles Street.
“The revised proposal is generally in accordance with the standards and guidelines in place for Fredericksburg’s Historic District, though some clarification or revision is suggested for specific items,” Fredericksburg Historic Resources Planner Kate Schwartz told City Council.
City Council voted unanimously September 13, 2016, to move toward the settlement agreement with NBB. The next step was the public hearing, held September 26 and carried over to October 25. City Council approved both the certificate and the incentive on Tuesday night.
The Fredericksburg Economic Development Authority (EDA) voted September 12 to fund the economic incentive for City Council. The city will pay NBB $150,000 upon completion of the rehabilitation of the National Bank Building and the issuance of certificates of occupancy for the first two townhomes. The second $150,000 is due upon completion of the rest of the project. The city will reimburse the EDA at three percent interest on the outstanding balance.
As of early July 2016, City Council had spent almost $155,000 on legal fees surrounding the development of the National Bank Building property, Lindley Estes of The Free Lance-Star reported.
The George Street Brownstones will be built behind the historic National Bank Building, within the Historic Fredericksburg District (HFD).
More
Public Hearing Remains Open on George Street Brownstones
City Council to Hold Public Hearing on Proposed George Street Townhouses
City Council Votes to Move Toward Settlement Agreement with NBB
EDA Votes to Fund $300K Incentive to Settle NBB Lawsuit
City Council to Vote on NBB Townhome Settlement
FoodE Opens in Historic Bank Building
Future of National Bank Building May Head to Trial
Developer Sues City Council Over Proposed Townhomes
City Council Overrules ARB’s Approval of Bank Property Townhomes
Preservation Group Opposes Plans for National Bank Building Property
Downtown Fredericksburg’s Historic National Bank Building Sold
Historic National Bank Building For Sale
Historic Bank Closes its Doors in Downtown Fredericksburg
