[UPDATE: The Council did not take up an agreement between the city and Simpson on Tuesday, as City Manager Russell Allen said a deal still hasn't been reached.]
Good question. The city has been in negotiations for months with the Simpson Organization, which owns the Bank of America Plaza building and the parking deck under Fayetteville Street where the proposed City Plaza would be located. The city needs an easement from Simpson before it can move forward with its grand plans to create a high-tech gathering place that can be closed to cars and reconfigured to accommodate parades, markets or concerts.
On today's City Council agenda is the outlines of an agreement between the city and Simpson. In exchange for the easement, Simpson would get an easement to construct and operate four retail pavilions on the plaza. Simpson would also get easments for outdoor seating areas.
The agreement does not appear to be finalized, though that may have changed over the last several days. The delays have aready guaranteed that the plaza won't be finished by the time the new convention center opens this fall. The cost of building the plaza is estimated at $21 million, and City Manager Russell has estimated it will take six to nine months to build the plaza. Raleigh plans to run power lines, phone lines and water pipes under the plaza floor so merchants can set up shop temporarily.
Allen and representatives of Simpson have both said negotiating the deal is complex. Neither side has explained what the particular hang ups are, though the delays seem strange given the city's desire to get the project moving forward.
Business reporter David Bracken came to the N&O in 2004. He covers commercial and residential real estate. Contact David at 919-829-4548 or 
