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County, developer agree to changes
Contractual dates delayed for both sides
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Forsyth County News

 

Forsyth County has pushed back some contractual dates in working toward the development of a large mixed-use development in south Forsyth.

During a Friday meeting, commissioners voted 5-0 to amend the development agreement with Taubman Centers Inc.

Taubman penned a deal with the county in 2008 for a regional mall, office space, hotels and residential units on 164 acres between Union Hill and McFarland roads.

The amendments made Friday will delay the latest opening date of the regional mall from 2015 to 2020, push back the county’s deadline to reimburse Taubman for right-of-way costs and allow the developer to purchase a portion of its reserved sewer capacity at a reduced rate.

Taubman sought to make the changes due to economic conditions and the recent sale of a parcel of land for apartments, which that developer plans to begin soon.

The negotiations with Taubman began in 2007, County Attorney Ken Jarrard told the commissioners, four of which were not on the board at that time.

Forsyth County has pushed back some contractual dates in working toward the development of a large mixed-use development in south Forsyth.

During a Friday meeting, commissioners voted 5-0 to amend the development agreement with Taubman Centers Inc.

Taubman penned a deal with the county in 2008 for a regional mall, office space, hotels and residential units on 164 acres between Union Hill and McFarland roads.

The amendments made Friday will delay the latest opening date of the regional mall from 2015 to 2020, push back the county’s deadline to reimburse Taubman for right-of-way costs and allow the developer to purchase a portion of its reserved sewer capacity at a reduced rate.

Taubman sought to make the changes due to economic conditions and the recent sale of a parcel of land for apartments, which that developer plans to begin soon.

The negotiations with Taubman began in 2007, County Attorney Ken Jarrard told the commissioners, four of which were not on the board at that time.