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<br />Joint Development Authority <br /> TCAAP Redevelopment Project <br />AGENDA ITEM 8a <br /> <br />MEMORANDUM <br /> <br /> <br /> <br />DATE: June 3, 2016 <br /> <br />TO: Joint Development Authority Board of Commissioners <br /> <br />FROM: Directors Iverson and Worthington <br /> <br />SUBJECT: Master Developer Preliminary Development Agreement <br /> <br />Budgeted Amount: Actual Amount: Funding Source: <br />n/a n/a n/a <br /> <br />Background: <br />The Preliminary Development Agreement (PDA) is a document that will serve to outline the responsibilities of the JDA <br />and Alatus Arden Hills LLC during negotiations for a Master Development Agreement (MDA). The PDA guarantees Alatus <br />that we will negotiate only with them during this period, and sets benchmarks for delivering an MDA by October 31, <br />2016. <br /> <br />Staff from the JDA and representatives from Alatus Arden Hills LLC have agreed to this form. <br /> <br />Attachment <br />a. Preliminary Development Agreement with Alatus Arden Hills LLC <br /> <br />JDA Action Requested: <br />Approve the Preliminary Development Agreement with Alatus Arden Hills LLC <br />