The Concord City Council, sitting as the Local Reuse Authority (LRA), interviewed and designated Brookfield Properties as the preferred master developer for Concord’s Base Reuse Project.
At a special meeting on Aug. 26, the LRA received a presentation from Brookfield about their plan to develop 2,300 acres of the former Concord Naval Weapons Station.
Following Council questions and public comment, the LRA voted unanimously to select the global real estate developer for this project.
The next steps include outlining the terms of an Exclusive Negotiating Agreement (ENA) and a "term sheet," a document that establishes procedures and standards for the negotiation of a comprehensive proposed Disposition and Development Agreement, and drafting a Specific Plan for the property.
The LRA is expected to consider the ENA at a meeting tentatively scheduled for Sept. 19.
A recording of the Aug. 26 meeting and supporting documents can be found online.