Tampa, Florida-- Earlier this week the Tampa Port Authority and Irish Bank Resolution Corporation (IBRC) met in secret session to discuss legal matters, and the Port Authority's plan to purchase Channelside in its entirety.
It would then be announced that the Port Authority and the bank made a deal that involved the sale of Channelside Bay Plaza to the Port Authority for $5,750,000.
The agreement also settled lawsuits between the Port Authority and the Irish Bank, which held the mortgage on the bankrupt complex.
So what now?
According to the Tampa Bay Times, city leaders will be looking for developers, the right vision, the right plan and the right price to turn around what may be the most snake-bitten 234,520 square feet of real estate in Tampa Bay.
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