Duke & Durham Development Deal

DURHAM (AP) — Duke University is willing to give the city of Durham $2 million to help cover a shortfall in the financing of its new performing-arts center, but they want a small favor in return.

The university wants the city to pledge "timely" consideration for a redevelopment project including residence halls, shops and restaurants between its east and west campuses. The offer, however, concerns some city council members worried about a state law that prohibits local governments from accepting money in exchange for granting regulatory approval.

The university proposes giving the city a $500,000 "donation" upon the signing of a binding agreement that pledges "timely" consideration of its Anderson Street plan. The remaining $1.5 million would be given when the city approves the plan and gives "any other necessary approvals required by the city for Duke to undertake the improvements."

Related Post