City Council to hold special meeting about IBM deal

Tuesday, May 18, 2010 | 11:40 a.m. CDT

COLUMBIA — The Columbia City Council will hold a special meeting at 6 p.m. Monday to discuss "Project Tiger," the deal that brought IBM to Columbia.

At this week's meeting, the council introduced an ordinance to authorize a money transfer and building lease agreement for Project Tiger.

While the agenda for the special meeting hasn't been finalized, the ordinance is scheduled for a second read and will be put up for approval, said Carol Rhodes of the city manager's office. The public will also have a chance to comment on the IBM deal.

According to a previous Missourian article, IBM will be moving into a vacant building at 2810 LeMone Industrial Blvd. The city is planning on purchasing the building for $3.2 million and leasing it to IBM for $1 per year for 10 years. After 10 years, there will be the option to renew the lease at the same price for an additional five years.

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