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Joint Development Authority <br />TCAAP Redevelopment Project <br />Joint Development Authority <br />TCAAP Redevelopment Project <br />AGENDA ITEM 8a.1 <br />MEMORANDUM <br />DATE: June 25, 2025 <br />TO: Joint Development Authority Board of Commissioners <br />FROM: Directors Mitchell and Jagoe <br />SUBJECT: Consider Request for Preliminary Development Agreement Extension <br />On December 4, 2023, the JDA and Alatus executed a Preliminary Development Agreement (PDA) for the <br />California Parcel at Rice Creek Commons. This PDA outlines the parties’ agreement to attempt to <br />negotiate the terms of a Final Development Agreement by June 30, 2025. The agreement expires by its <br />own terms after June 30, 2025, unless extended by the parties. <br />At the June 2, 2025, JDA meeting, Bob Lux from Alatus verbally requested that the term of the <br />Preliminary Development Agreement between Alatus and the JDA be extended to 30 days past the date <br />that the 90% plans for the Spine Road and related infrastructure are expected. The target date for the <br />90% plans is August 8, 2025, so 30 days beyond that would be September 7, 2025. <br />As of the publication of this agenda packet on June 20, 2025, the JDA Advisory Committee has not yet <br />met to determine if they will provide a recommendation to the JDA on this item due to scheduling <br />conflicts. They are scheduled to meet on June 23, 2025. An additional memo is anticipated to be <br />provided at the June 25, 2025, JDA meeting. <br />Attachments: <br />Preliminary Development Agreement <br />Action Requested: <br />Consider the request for extension of the term of the Preliminary Development Agreement with Alatus <br />to September 7, 2025.