Grace mixed-use development PPP project canceled in Wilmington

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The Local Government Commission (LGC) did not approve the New Hanover County lease with Zimmer Development for Grace mixed-use development public-private partnership (PPP) project in Wilmington, Hanover county, USA.

Hanover County assessed the cost of issuing debt for the construction of the facility and the time frame for action and decided not to approve the lease after considering financial performance and the thoroughness and advice of LGC staff. The county plans to continue with the library and museum in a different structure and will not have the transformation of the full block. Under the Memorandum of Understanding (MoU) the district must purchase complete design and construction documentation for the library and museum for $2.5 million from Zimmer Development. 

This project involves a mixed-use development on a 30-ac site that will replace the existing downtown Public Library, a parking deck and several underutilized surface parking lots with a purpose-built library adjacent to a modern Cape Fear Museum. The scope of work also involves the construction of private commercial places on the south side of the block.

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