City reaches verbal agreement on Civic Square project

Back in May, I reported that that the city had extended its deadline to June 30 for reaching agreement with Bosa Development on the details of the Civic Square development project — i.e. the big hole in the ground just west of City Hall.

A spokesperson for the city’s Finance and Administrative Services Department told me this afternoon that the parties reached a verbal agreement before the deadline and are now hashing out a written agreement:

We did reach a verbal agreement on all major points by the June 30 deadline, though we cannot share the deal terms publicly until we finalize the language of the written agreement. We expect that to be done over the next couple weeks.

I’ll follow up with the details once they are released. The agreement will need to be ratified by the City Council.