Sale of West 3rd Street property delayed

June 18, 2021–3:13 p.m.


The Rome City Commission has delayed a vote on approving the sale of just over two acres of city-owned property adjacent to the Courtyard by Marriott on West 3rd Street.

Rome City Manager Sammy Rich told the commission that the extra time would give the city and the buyer, Four Stones Earl Estate, more time to talk through the agreement and make sure everyone is on the same page.

“So, we’ve been back and forth,” Rich said.  “City Attorney Andy Davis and his team have been working diligently to put all the protections in that have been previously discussed.  To cut to the chase, they sent in a red-line version late yesterday.  Because of that, my recommendation is that we not take action today.  The alternative would have been asking you to approve it subject to Andy working it out, but they have already delayed closing.”

City Attorney Andy Davis FSRE’s plan for the 2.14 acres tract does not include housing.

However, FSRE has purchased additional parcels in the West 3rd corridor.

The city is stipulating that if FSRE does not construct housing on those additional properties, the 2.14 acres would revert back to the city.

“We tied in a restriction that there be 280-300 workforce or multi-family apartments be constructed in the West 3rd corridor, he said.  “That does not seem to be a problem.  However, as we move forward, it’s the time frame, and how long that lasts in order if they don’t do that, how it reverts back to the city.  It’s just trying to tweak that language.

Davis added the stipulation achieves the goal set forth in the city’s master plan put forth a number of years ago, which was to get apartments, condos, and dwelling units on the West 3rd side of the river.

“They [Four Stones] are agreeable to that concept, it’s just trying to work out the language to the restrictions and the reverter that we have,” Davis reiterated.

The agreement is expected to come up for a vote during the commission’s next regular meeting or possibly soon if another called meeting is deemed necessary.

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