Facilitating Property Transfer and Conveyance for New Basketball Arena

Amid a group of stakeholders, Amundsen Davis assisted our client, an entertainment venue, in negotiating the transfer of property to allow the construction of a new arena for a basketball team. The venue needed consent from the state to waive and release previously funded development grants, and from the basketball team for debt forgiveness. As part of the conveyance, permission was also granted to a developer to begin work on the new arena, using portions of the remaining parcels still owned by the venue. In exchange, the developer granted permission to the venue to continue certain activities on certain portions of the conveyed parcels.