The Bristol Development Authority (BDA) and City Council are charged with coordinating development on Centre Square. Prior to submitting projects to these boards, City staff work closely with developers/businesses interested in developing on the downtown parcel(s).
This early work is critical to ensuring projects align with the community’s vision for Centre Square and to address engineering and other technical challenges early in the process.
Historically, developers first execute a Letter of Intent with the City to secure exclusive access to a portion of Centre Square to complete due diligence.
“Bristol Health’s investment in downtown is serving as a catalyst for others to envision the potential. With so much history built into what has occurred here for the last 50 years it is really important that the Centre Square development be thoughtful, and reflect the community’s needs. Health care, in terms of employment and patients will bring people downtown. It is a true case of connecting the dots and creating a network of destinations whether it is for government services, lunch, after work gatherings or professional and financial services.” – Mayor Ellen Zoppo-Sassu
This due diligence includes reviewing environmental and other site data, completing site plan/building design and securing land use and other board approvals, obtaining financing (if needed) to fund the project, and more.
This due diligence often is completed prior to executing a Purchase and Sale Agreement, which officially transfers municipally owned property to a private developer/business for completion of a project in that both sides are satisfied.