Committee on Finance| Regular Meeting | February 17th, 2026 | 5:30pm

Good

evening, all.

Welcome to the Committee on Finance regular meeting. It is Tuesday, 02/17/2026 at 05:32PM. Madam Clerk, will you kindly call the vote?

Chairwoman Ryan.

Crescent.

Vice Chairman Sealer.

Here.

Councilor Andrew Blach.

Here.

Councilwoman Graves is absent. Councilor Sanchez.

Here.

We have four present and one absent.

We have

a vote.

Thank you very much. Let the record reflect that we are joined this evening by the council president, Rachel Miller, and council colleague, Jill Davidson is my host. And we are staffed by the wonderful Betty Solicitor Shaw. So we're all set. We got a

full house. Mhmm. Okay. Please read the first item into the record.

Resolution authorizing the sale of city owned parcels, asymptomatic.

Okay. Who do we have to testify? I swear everyone is.

Please raise your right hands.

We swear in the fancy of perjury that the testimony you're about to give is the truth, the whole truth, and nothing but

the truth.

I do.

And please state your names for the record.

Courtney Hawkins, chief operating officer.

Nicholas Cicantelli, Director of Groups of General Counsel, Deputy Director of Public Property.

Wonderful. And they provided a proposal to this package. I'd like to make a motion or accept a motion to enter this exhibit into the record exhibit one a, we will call it. Motion made by council Warren Antibault, seconded by councilman Taylor. All in favor, aye.

Any opposed, ayes have it. Motion carries. We have an exhibit entry. Okay. Okay.

Please take it away.

Thanks, chairman.

Good morning. So we're here tonight on two purchasing matters. Both happen to be in city property. I just wanna take a minute to thank Nick Chickantown here, our director of real estate. I think our administration has moved more city property to market than maybe in the history, and it's a lot of work.

So thank you, The two for both of these properties that I reported today, they both went through the board of contract and supply, which occurred to the RFPs that were Excuse me. Do you intend

to talk about these two together?

I'm not. Just gonna give you our review of time. We'll do it.

I was just gonna change the motion if that was you. No. Right. That's okay.

So they went through board of contract and supply for approval of the RFP, and then we're opened in that same meeting with the responsive bidders. So as it relates to Messer Street properties, it's actually a bundle of properties that was put out together. Just for a general background, the city charter is very specific as it relates to the sale of properties, which is why sometimes we transfer properties to the PRA because the redevelopment authority has a little bit more flexibility. But as it relates to a property going from the city, the prop we cannot take less than 90% of the appraised value, and then we have to take the highest responsible bidder. And the RFP lays out what a responsible bidder is.

So in the case of this property, the proposal before you is that it is the highest responsible bidder, valued at $1,500,000 a bid. It provides for approximately 50 units of new housing, 20 units offered at 80% AMI, and then, you know, make some commitments to pursuing additional affordability based on availability of subsidy through. Nick, anything you'd like to add?

We did three bids, slept with a nice bidder. Each of the bidders have all the affordable housing to it, and, they were all being responsive to the nonconsiderable to the, section four sixteen of the charter with the felons that there are no no less than 90% of the appraised value and to the highest bidder.

K. Anyone else? Mr. Luci, do you want to say anything?

Nope.

I'm good.

You're good? Does anyone want to talk just briefly about the proposal and what the plan is?

Yes. So the proposal has the historic school water from 1876, I believe. So that's a historic renovation. It could be a tax credit project or a storage, tax credit project. And they're gonna put mixed housings, renovating that full building, and then with the remaining lots, reserving some for the open space and for for parking.

They're gonna put the construction housing on the remaining lots. So there should be a a private addition to the street that's been, underinvested in for quite some time and, able to justice, with the construction next to historic renovation.

Wonderful. This clearly benefits the community that are expressed in this proposal. Does anybody wanna get that on the record, or are you good with that presentation as is? Okay? Okay.

Cleaning members, any questions, concerns? Councilman, Angela. Thank you.

So can I ask three questions?

You can ask three questions.

Thank you. Just the right

number. Just about process. So one is you said for all that are deemed responsive, how do

you determine what's deemed responsive?