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11-06-2023 JDA Special Work Session
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11-06-2023 JDA Special Work Session
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<br /> Joint Development Authority <br />TCAAP Redevelopment Project <br />Joint Development Authority <br />TCAAP Redevelopment Project <br />AGENDA ITEM 4 <br /> <br />MEMORANDUM <br />DATE: November 6, 2023 <br /> <br />TO: Joint Development Authority Board of Commissioners <br /> <br />FROM: Directors Perrault and Collins <br /> <br />SUBJECT: Term Sheet Discussion <br /> <br />Throughout 2023, the JDA has discussed aspects about the Rice Creek Commons project that will inform <br />a term sheet with Alatus, the developer of the site known as the California parcel. A term sheet is a non- <br />binding document that outlines terms for a future Development Agreement and identifies items that still <br />need to be negotiated. It can be useful as a tool to move discussions forward. Staff is working with <br />project partners to draft a term sheet for review in December. <br /> <br />Core areas to inform a term sheet may include: <br /> <br />• Housing unit count / density <br />• Housing affordability <br />• Housing type (number of for-sale vs rental homes) <br />• Green energy goal and infrastructure <br />• Infrastructure financing: City and County facilities <br />• Public financing: City and County tools <br />• Maintenance and operating costs and responsibilities: City and County <br />• Construction standards <br />• Conveyance of property <br />• Timeline <br /> <br /> <br />Attachment: <br />None <br /> <br />Action Requested: <br />None <br /> <br /> <br />
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