CHARLOTTE — The Charlotte City Council decided Monday to postpone a vote on whether to give a developer $2.35 million to finish the redevelopment of Mecklenburg Mill.
The council was supposed to vote on the funding request Monday, but it decided to defer that decision until Oct. 8.
Last year, the developer, The Community Builders, bought the Johnston and Mecklenburg mills and 10.3 acres of land from the city for $1.2 million following a bidding process.
TCB plans to convert the mills, which are in the NoDa neighborhood, into housing, some of which will be affordable. But the company now says it will cost $5 million more than it originally thought to finish rehabilitating the mills, bringing total project costs to $15 million.
Rob Fossi, vice president for TCB, in asking for the money told the council that the company has uncovered extensive damages while gutting the mills. TCB is hoping the city will provide more financial assistance for the project from a roughly $4 million Community Development Block Grant.
But even if the council doesn’t approve the $2.3 million, TCB would not abandon the project, Fossi said, adding that giving up is “not in the company’s DNA.”
Scott Baughman can be reached at email@example.com or (704) 247-2911.