FOR IMMEDIATE RELEASE | JANUARY 20, 2017
Mayor Patrick Madden Statement on Redevelopment of One Monument Square Site
TROY, NY – Mayor Patrick Madden has issued the following statement regarding the conclusion of the submission process to redevelop the One Monument Square site in downtown Troy:
“The continued interest shown in the redevelopment of the One Monument Square property illustrates the importance this site has on the future prosperity of our downtown and our community. To ensure the integrity of the process surrounding this high-profile project an advisory group has been established to conduct a fair, thorough and unbiased review of all proposals consistent with city policies. Thank you to the many residents, community stakeholders and business owners for their engagement and input as this exciting process has moved forward. We remain committed to serving the best interests of our city and our residents and look forward to moving ahead with the redevelopment of the One Monument Square site.”
Responses for the One Monument Square RFP were due on Friday, January 20 at City Hall. Two submissions were received.
An advisory group consisting of city staff, residents and property owners has been established to review the proposals and is scheduled to meet during the next several weeks, although additional meetings and interviews may be required. After completion of the review process, a preferred development team will be selected. Following this selection, the team will meet with key city staff from involved departments to ensure that the developer and the City are in agreement on key development issues.
Following completion of negotiations between the administration and the selected developer, a contract agreement will be presented to the City Council for their consideration and approval.
Additional information on the One Monument Square project can be found online at the City of Troy’s Planning Department homepage: http://www.troyny.gov/cityprojects/monumentsquare
John Salka, Deputy Director of Public Information
[email protected] / (518) 279-7131