Up and Coming Weekly is a weekly publication in Fayetteville, NC and Fort Bragg, NC area offering local news, views, arts, entertainment and community event and business information.
Issue link: https://www.epageflip.net/i/28646
CHAMBER UPDATE Presiden dSepnt eaks Chamber Releases Statement on Festival Park Plaza Office building Transfer On March 28, the Fayetteville City Council O t nsfer to the Chamber, the City’s agent in the Festival Park transaction. Additionally, due to a recently negotiated settlement in another lawsuit regarding the third owner of FPPO, the transfer of the third owner’s share will also be transferred to the Chamber. Te Chamber will become the sole owner of the building. voted to accept a settlement between the City of Fayetteville and James P. Baker, the 1/3 owner of the Festival Park Plaza office building. As a part of this settlement, Mr. Baker’s interest/ owner- ship in the Festival Park Plaza office (FPPO) will tra s of the City, the Chamber is acting as a short-term agent for the City to assist them in ending a challenging financial relationship. Te City’s goal is to take full ownership of the FPPO within six months. Te Chamber understands that long-term ownership of Festival Park Plaza puts the Chamber in direct competition with our developers and does not intend to enter into the real estate business. Tis is a short-term arrangement. Te Chamber’s role as agent for the City will be in name only. Te City will manage all day-to-day operations including management of the property, and expenses. Te City and Chamber will also hire a property manager to market the property on behalf of the City. Te City will pay for any expenses incurred for and by the property manager. Te following is a statement released from Doug Peters, President, and CEO of the Fayetteville-Cumberland County Chamber of Commerce: “At the request As the Chamber will not be bearing any costs associated with the transfer of ownership, Chamber members can be assured that none of their member- ship dues are being spent on this transfer or ownership.” Business sinessSpotlight Sustainable Community Foundation Te formation of the nonprofit Sustainable Community Foundation was an- nounced March 30 during the 2nd Annual National Green Conference. Te group is sponsored by Fayetteville State University, with its partners, city leaders, the Public Works Commission, Fort Bragg, your Chamber and Sus- tainable Sandhills. Te announcement was made to an audience of about 300 who were there to listen to keynotes from speakers, Tad Davis, Chief Executive Officer, US Army Reserve Command, Fort Bragg, and Laura Turner Seydel, an envi- ronmental campaigner and the daughter of media mogul and CNN founder Ted Turner. Te Sustainable Community Foundation hopes to make Fayetteville nation- ally recognized for sustainable business and life and develop degree or cer- tificate programs at FSU in environmental sustainability. From an economic development stand point, the group also hopes that these efforts will attract green companies to the area and provide a need for a new business park, create job opportunities and the production of local sustain- able products. 10 UCW APRIL 6-12, 2011 WWW.UPANDCOMINGWEEKLY.COM Te Te