Richmond may extend purchase-option period on riverfront property

An agreement that would allow the family of Richard Ripp to buy city property at the Richmond Intermediate Terminal along the James River is set to expire Sunday.

City officials are considering a seven-month extension to give the family time to work out a broader plan for development of the area -- a prospect that could include the city and the proposed developers of Echo Harbour.

After discussing the issue in a closed meeting last week, the City Council is scheduled to vote tonight on a proposal to extend the purchase-option period held by the Ripps until Jan. 14, 2010.

The agreement 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 Ripps, operating as Restauranteur Inc., sued the city and reached a settlement in late 2004 that envisioned the development of a restaurant. The agreement allows the family to buy the terminal building and property along East Main Street for $725,000.

Michael Ripp, a family spokesman, declined to discuss the proposed extension or possible development scenarios last week. He briefly attended a council committee meeting with George Ross, the developer of the proposed Echo Harbour condominium, hotel and office project.

"What we're talking about is coordinating things and planning things together once they get their plans together," Ross said of the Ripps.

City officials also are receptive to an extension, even though the city's financial obligations if the option is exercised are unclear, Council President Kathy C. Graziano said. Mayor Dwight C. Jones' administration would not provide an explanation, citing the possible real estate transaction.

The fact that the Ripps even had a option on the property was a surprise to then-Mayor L. Douglas Wilder when the issue surfaced in June 2008.

At the time, Wilder was proposing a public marina for the Intermediate Terminal property -- a project that was rejected by council members. Wilder also was opposing Echo Harbour, whose developers were in talks with the Ripps about a potential partnership for development.

City officials said the proposed extension would allow for some much-needed talks.

"Both parties just want more time to determine the course," said Tammy D. Hawley, Jones' press secretary.

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