Town Council members were scheduled to hold a special session Tuesday before a regular meeting to hear presentations regarding the recently submitted downtown redevelopment proposals.
Two development companies, Clark Ventures LLC and Herndon Station LLC, submitted proposals to the town vying to be the company to redevelop the downtown.
Clark Ventures was the first to submit its proposal in late July. Under the Virginia Public-Private Education and Infrastructure Act, the company was able to withhold information — such as project financing — in its initial bid. Because of competition, the information released under the act can be minimal.
Clark Ventures' submission started a 60-day acceptance period when other companies had to submit proposals before bidding closed.
Herndon Station LLC, comprised of Norton-Scott LLC, Tritec Real Estate, Inc., Grand Duke Hotels LLC, Centex Construction and Centex Homes and Davis Carter Scott LLC, submitted its proposal the last day of the 60-day period.
Both proposals include the construction of historic downtown Herndon and include a mix of retail shops, residential housing, office space, public parking facilities and an arts center, among other things.
A tentative public hearing was scheduled for Nov. 8 — prior to Tuesday night's meeting — to hear public comment and take action on the proposals. If a decision is made in favor of one or both of the proposals, the process will move into the detailed stage, a comprehensive agreement would be discussed and then ultimately a bonding contract would be made.
The proposed project area encompasses approximately the Station, Elden and Center Streets area and the Washington & Old Dominion Trail property. It also includes vacant land at Center and Vine Streets, including the former Dominion Virginia Power substation site.