Jeff Vinik Gets The Okay for Channelside Project

TAMPA – The principals of CBP Development, LLC (CBP) and Liberty Channelside, LLC announced today that they have reached an agreement with Port Tampa Bay and the Irish Bank Resolution Corporation (IBRC) facilitating the approval of CBP’s bid to acquire Channelside Bay Plaza.

Statement from CBP Development LLC “We are happy with this agreement as it now creates a path for the turnaround of a very important community asset” said Jim Shimberg, an executive of CBP Development. “We appreciate the efforts of Liberty Channelside, Port Tampa Bay and IBRC in helping resolve this matter.”

Statement from Port Tampa Bay “Port Tampa Bay worked hard in the best interest of the tenants and the entire community, and was able to reach the best solution to a very complex problem,” said Paul Anderson, Port Tampa Bay President and Chief Operating Officer. “This is the first step in a process and we look forward to a new beginning with CBP Development at Channelside Bay Plaza.”

Statement from Liberty Channelside LLC “We are pleased this issue is resolved and are confident in Mr. Vinik’s plans to redevelop the Channelside retail center,” said Santosh Govindaraju, a principal of Liberty Channelside, LLC.

Source: Tampa Bay Lightning Media