The tentative settlement includes a deadline of June 1, 2016, for the buyer to complete the purchase of the 2.5 million-square-foot structure and adjacent properties currently owned by British developer Bill Davies' International Property Developers North America. The city said it would also require approval of a formal redevelopment plan, including a budget, economic disclosures, financing arrangements, uses, site plans, and a timeline to fix the "numerous structural, safety and hazardous conditions that have led to more than more than 20 building code citations since 2012."