Columbia, SC (WLTX) -- The City of Columbia has sent its contract to developer Bright-Meyers for the sale of the Captial City Stadium and the six acres it sits on.
Capital City stadium is on the clock. The stadium that sits on six acres is the final piece needed to create a 23-acre shopping center off Assembly Street.
However, the deal is not yet final, as developer Bright-Meyers must first agree to some of the contracts details that deal with flooding.
"We are excited about the opportunity to help Rocky Branch."
Assistant City Manager, Missy Gentry, says the 56 page contract that was executed by City Manager Steve Gantt Wednesday, puts the city one step closer to selling the land and 85-year-old stadium.
"We are not going to move forward without the contract being signed. The developer is going through due diligence to make sure that the development can happen without having a negative impact," said Gentry.
The contract asks for Bright-Meyers to put of half a million dollars, a number the city will match through funds from the sale of the land, to fix specific pre-construction issues that city studies point to as causes behind flooding in the Rocky Branch area.
The improvements include removing a railroad trestle downstream of Olympia Avenue, enlarging the Olympia Avenue culvert, and improving the bluff road railroad embankment.
"Those will make a positive impact on flooding in the area in general and along the entire length of Rocky Branch."
The city says from all indications, the developer is on board with the proposed flooding improvements and shouldn't prevent the contract from going forward.
"This is really an exciting opportunity to do it right. Sometimes we don't have this opportunity and we have to start at the mid-point. But here we can start downstream and work our way up and really make a difference long-term," said Gentry.
In addition to reducing flooding, Bright Meyers will also have to obtain city permits to begin building. The city believes any activity at the site is at least year away.