GROUND LEASE AGREEMENT FOR COUNTY-OWNED LAND LOCATED ON PHT

Board of County Commissioners · 2026-07-21 · resolution

Resolution approving the bifurcation of the Jackson Medical Towers Redevelopment Lease Agreement with RUDG, LLC for the second phase of a workforce and affordable housing development on County-owned land. The project involves refurbishing existing Jackson Medical Towers structures into a 358-unit residential building with approximately 676 parking spaces, instead of demolition and new construction. The Phase 2 Lease is for a term of 99 years with estimated cumulative rental revenue of $534,923,191 to the Public Health Trust, including a capitalized lease payment estimated at approximately $41,331,973. The tenant is Residences at Wagner Creek, LLC, an entity affiliated with RUDG, LLC. The resolution was adopted by the Board of County Commissioners on July 21, 2026. The project also includes a provision for a vocational high school focused on health sciences and an annual option for the Public Health Trust to lease back a minimum of 20 percent of parking spaces at discounted rates. The document does not state any public comment or stakeholder sentiment.