Tiny Del Rey Oaks grew dramatically after Fort Ord closed, acquiring title to 328 acres of property on the former Army base. Now the city is considering selling 73 acres of that land to Monterey Peninsula Properties, LLC for $3 million.
A contract with the developer is on Tuesday's City Council agenda for approval.
"The development of this site…is in the vital and best interests of the city," according to the development agreement. The deal also calls for the city to give the company 50 acre-feet of water per year each of potable and non-potable water.
City officials have been in talks with developer Brad Slama for months about a possible housing and solar project on the former Fort Ord.
The move comes after a drawn-out court battle with a would've-been developer on the property. Washington, D.C.-based Federal Development/JER Associates backed out of plans for homes, a golf course and hotel, declared bankruptcy and sued the city. Del Rey Oaks had already begun negotiating with other prospective developers before the case wound down.
A closed-session meeting for property negotiations on the parcel is scheduled for Wednesday at 1pm.
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