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Worth, Fort Myers and Minneapolis. He explained the work completed by Belair Sitework was <br />complimentary to this kind of project as it required large amounts of mass grading and utility <br />work. <br /> <br />Consent Agenda <br /> <br /> None. <br /> <br />Old Business <br /> <br />None. <br /> <br />Public Hearings <br /> <br />None. <br /> <br />New Business <br /> <br />a. Consider Request for Preliminary Development Agreement Extension <br /> <br />Director Mitchell stated on December 4, 2023, the JDA and Alatus executed a Preliminary <br />Development Agreement (PDA) for the California Parcel at Rice Creek Commons. This PDA <br />outlines the parties’ agreement to attempt to negotiate the terms of a Final Development <br />Agreement by June 30, 2025. The agreement expires by its own terms after June 30, 2025, <br />unless extended by the parties. At the June 2, 2025, JDA meeting, Bob Lux from Alatus verbally <br />requested that the term of the Preliminary Development Agreement between Alatus and the <br />JDA be extended to 30 days past the date that the 90% plans for the Spine Road and related <br />infrastructure are expected. The target date for the 90% plans is August 8, 2025, so 30 days <br />beyond that would be September 7, 2025. She described how the PDA is connected to the <br />Purchase and Sale Agreement (PSA). Further information was provided regarding the proposed <br />development and cost to complete the mass grading. The financials provided by Ehlers and <br />Alatus were reviewed by staff. Staff commented further on the term sheet requirements and <br />explained the JDA could consider approval, approval as amended, or denial of the PDA <br />extension to September 7, 2025. It was noted, if the JDA takes no action, the PDA will expire on <br />June 30, 2025. <br /> <br />Chair Wicklund asked if the JDA Advisory Committee members had anything additional to add <br />at this time. <br /> <br />Commissioner Monson explained she had a soft recommendation to not extend the PDA to <br />September 7, 2025. She stated this was a really tough moment and a tough decision after <br />sitting in all of the meetings. She indicated after looking back at the last two years, she was of <br />the opinion there was not a great deal of engagement from the developer. She commented on <br />how this had changed in the last five or six weeks in order to get this project across the finish