Orlando Magic Get Buy Option To Redevelop Police HQ Site

Law360, Miami (February 25, 2013, 8:10 PM ET) -- The Orlando City Council on Monday took a step toward selling the city's police headquarters building to the owners of the Orlando Magic, who are considering redeveloping the downtown property into a $100 million mixed-use complex including the basketball team's offices.

The council approved a feasibility study and purchase option agreement between the city and SED Development LLC, which has the same ownership as Orlando Magic Ltd. The deal provides a time frame for the team to determine the feasibility of redeveloping the 3.3-acre site across...
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