Approve reimbursement agreement for Terminal One site environmental cleanup
In Plain English
Terminal One Development will clean up contamination at the Terminal One site and seek reimbursement from the city afterward. The agreement sets terms for what cleanup costs the city will repay. The site likely contains industrial pollution that must be removed before any development can occur.
Auto-generated summary. Source: official agenda documents.
Votes
Adopted Resolution No. 16-7, authorizing the execution of an Environmental Remediation Reimbursement Agreement with Terminal One Development, LLC for the remediation of the Terminal One site
6 to 0
Why This Vote Matters
The city unanimously approved an agreement allowing Terminal One Development to clean up contamination at the Terminal One site and seek reimbursement from Richmond afterward. The developer will handle the environmental cleanup of likely industrial pollution that must be removed before any development can proceed, with the city agreeing to repay certain cleanup costs under terms set in the agreement. This arrangement shifts the upfront financial burden of remediation to the developer while ensuring the contaminated site gets cleaned up. The specific reimbursement amount will depend on actual cleanup costs incurred.
Auto-generated context. Source: official meeting records.
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