Vote on Midway Rising’s sports arena project expected early next year

San Diego’s negotiations with the Midway Rising development team selected to remake the city’s sports arena real estate in the Midway District are said to be progressing, but final consideration of a development deal will likely get pushed to early 2025.

“Given the fact it took us a minute to get a consultant on board, and then also wanted to give room for the county to potentially join and explore an , we’re still hopeful we can accomplish a lot by the end of this calendar year, but looking to maybe adjust into 2025 — maybe the early part of 2025 for any final votes,” Bibler told council members.

The city and development team have been negotiating a long-term ground lease, per the framework defined in an exclusive negotiation agreement , for more than 18 months with a previously stated goal of finalizing a development deal before the end of year. The ENA’s initial two-year negotiation period is set to expire on Dec. 4, 2024, although the mayor has the ability to extend the agreement for two, one-year terms.

Affordable housing projects lean on state and federal subsidies known as low-income housing tax credits to fill the gap between the cost to build and anticipated revenue. But the substantial number of rent-restricted units in the Midway Rising proposal makes the project more difficult to finance. Midway Rising would like the district’s boundaries to match the project’s boundaries, but some community members have expressed a desire for the district to encompass the entirety of the Midway community, Bibler told the Union-Tribune.

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Fact Check: Biden Says ‘a Vote for Trump Is a Vote for a National Abortion Ban’Source of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »

A vote against Trump is a vote for a banana republicVoting for Donald Trump is now about protecting the integrity of the judicial system after a travesty of justice in the hush money trial.
Source: dcexaminer - 🏆 6. / 94 Read more »

Fading Oakland A’s at the midway point: What to expect in the second halfJerry McDonald has been with the Bay Area News Group for more than 30 years, with a heavy concentration of NFL football since the Raiders returned to Oakland in 1995. His all-time favorite athlete is a right-handed pitcher at Division III Linfield College in Oregon.
Source: mercnews - 🏆 88. / 68 Read more »

San Jose Earthquakes fire head coach Luchi Gonzalez midway through his second seasonThe last-place San Jose Earthquakes fired head coach Luchi Gonzalez.
Source: mercnews - 🏆 88. / 68 Read more »

Nine up, nine down at NASCAR season's midway pointWith 18 points races completed in the 2024 season, here are nine people in NASCAR who are trending up and nine who are trending down.
Source: FOXSports - 🏆 280. / 63 Read more »

Padres beat Brewers, reach midway point with winning recordJackson Merrill his his seventh home run in 10 games, Randy Vásquez went five innings and Robert Suarez got the final out after Brewers hit grand slam with two outs in the ninth
Source: sdut - 🏆 5. / 95 Read more »