NDC – TPSS Co-op Letter of Intent Negotiations
NDC – TPSS Co-op Letter of Intent Negotiations
The Takoma Junction City-owned parking lot is to be redeveloped to revitalize the commercial area. Takoma Park City Council selected Neighborhood Development Company as the developer for the project.
The Takoma Junction Development Agreement (Section 4) included a list of actions that must be undertaken within a specified timeframe. One action was the submission of a Letter of Intent (LOI), executed by NDC and the TPSS Co-op. An LOI is a non-binding agreement that establishes the terms and conditions of a future lease arrangement between a landlord (NDC) and a tenant (Co-op). The LOI was not signed by the deadline and Council authorized NDC to seek a new anchor tenant on January 11, 2017.
The reports submitted by NDC detailing the status of their negotiations with the Co-op regarding the required LOI are posted below. The City is not a party to these negotiations.
- May 8, 2017 Letter from NDC to TPSS Co-op
- January 6, 2017 Negotiation Update Letter with Draft LOI and Additional Exhibits
- December 31, 2016 Negotiation Update Letter
- December 16, 2016 Negotiation Update Letter
- December 2, 2016 Negotiation Update Letter with Draft LOI and Additional Exhibits
- November 18, 2016 Negotiation Update Letter
- November 11, 2016 Negotiation Update Letter
- November 4, 2016 Negotiation Update Letter
- October 26, 2016 Negotiation Update Letter with NDC Concept Design
- October 19, 2016 Negotiation Update Letter
- October 12, 2016 Negotiation Update Letter with Co-op Floor Plan
- October 5, 2016 Negotiation Update Letter
- October 3, 2016 Negotiation Update Letter
- September 23, 2016 Negotiation Update Letter
- September 15, 2016 Neogtiation Update Letter
- September 8, 2016 Negotiation Update Letter
- August 31, 2016 Negotiation Update Letter