Hart Park improvement work is scheduled to get under way soon, but the city has yet to finalize $1.2 million in project funding.
Toldt Development was supposed to buy land near the Public Works Yard to build 427 units of condos, senior apartments and lofts, a deal city staff expected to wrap up by the end of February.
Now the deal is held up by negotiations over price, according to a memo from City Administrator James Archambo to the Common Council's Budget & Finance Committee.
The park facilities project depends on money from the city's capital budget, borrowing and funds from the land sale. Tomorrow night, the committee will discuss whether to hold off on park improvements until the sale goes through or if other funding options such as borrowing a larger amount of money should be pursued.
The park project is in the design phase and city officials had hoped the athletic facilities would be ready for the fall sports season.
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