Family plans to buy Richmond riverfront property

A family says it plans to exercise its right to buy city property at the Richmond Intermediate Terminal, despite last night's vote by the City Council aimed at delaying the transaction an additional seven months.

The family of Richard Ripp decided to exercise its purchase option before Sunday's deadline because it isn't comfortable with the language of the extension approved by the council, family spokesman Michael Ripp said.

Under a 2004 agreement with the city, the Ripps, operating as Restauranteur Inc., are able to buy the terminal building and property along East Main Street for $725,000 for the development of a restaurant. The property is assessed at $2 million, according to city officials.

However, the family would like to stop the purchase once a mutually acceptable extension agreement can be put in place, attorney Thomas M. Wolf wrote to council members in a letter yesterday.

The Ripps' restaurant holdings include Can Can in Carytown and Arby's franchises in the Richmond and Tri-Cities area.

The Ripps and city officials have been talking about extending the deadline to allow time to work out an agreement for development of the riverfront area east of downtown, perhaps including the site of the Echo Harbour condominium, hotel and office project.

"We'll continue to look at other ways to work with the city . . . on the development of the river together," Ripp said.

Last night, the council voted 8-0 to approve an ordinance that extends the purchase-option deadline to Jan. 14, 2010. Councilman Douglas G. Conner Jr. was not present.

City Attorney Norman B. Sales said it was not possible for the council to vote on a version that had been requested by the Ripps. The family wanted the 2004 agreement to be included, but Sales said the change would be substantive and require further legal advertising. Jane C. Ferrara, the city's director of real estate, also recommended that the council approve the ordinance as originally presented.

Council members have said there's disagreement between the city and the Ripps over how much the city might have to spend to provide parking to support the Ripps' development. Mayor Dwight C. Jones' administration has declined to discuss the matter, citing the pending real estate transaction.

The Ripps' original purchase option was approved in 2004 for a 60-month term but dates to a 1981 lease that the city tried to condemn under then-City Manager Calvin D. Jamison.

The family sued and reached a settlement in late 2004 that envisioned the development of a restaurant.

Ripp said the family remains committed to opening a restaurant.

"We may look to a greater use as well," he said. "Everything's on the table, really."

Contact Will Jones at (804) 649-6911 or .