On Tuesday night the City of Pawtucket’s property committee and City Council met via Zoom to discuss an ordinance amendment regarding a lease of city-owned land in the Tidewater Landing project with Fortuitous Partners.
Specifically, the discussion regarded the properties below with the vote amending the language of Chapter 76 of the Code of Ordinances to allow the city to enter a lease agreement with a time period exceeding 10 years.
Plat: Lot: Site Description:
54 827 Tidewater - North Site
23 673 Division Street Site 1
23 672 Division Street Site 2
23 599 Division Street Site 3
It is worth noting that property 672 on Division Street is owned by the Pawtucket Redevelopment Agency which will convene this Thursday.
The council voted unanimously on line item #2 which authorizes the City of Pawtucket to “enter a lease agreement for a period of time that exceeds 10 years”. The verbiage was amended during the session to include the possibility of lease extensions.
On hand during the meeting was Brett Johnson of Fortuitous Partners who said they “are more committed to this project than ever”. Tuesday night’s meeting was a “proof of life” moment for the project with Rhode Islanders looking to move on a critical redevelopment project that is needed now more than ever.
Going forward the City of Pawtucket will work out lease agreements on the properties with Fortuitous Partners and once an agreement has been made the City Council will then vote on the matter. The legal counsel of the City Council will review the proposed lease agreement by 5:30 on Thursday.