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<br />. <br /> <br />. <br /> <br />. <br /> <br />~ <br />EN HILLS <br /> <br /> <br />MEMORANDUM <br /> <br />DATE: <br /> <br />October 15, 2003 <br /> <br />Agenda Item 2.B. <br /> <br />TO: <br /> <br />Mayor and Council <br />Michelle Wolfe, City Administrator <br /> <br />Aaron Parrish, Director of Community Development! Asst. City Admin. (} <br /> <br />FROM: <br /> <br />SUBJECT: <br /> <br />Interim Developmellt Agreement Amendment <br /> <br />ENCI.OSURES: <br /> <br />1. Draft Interim Development Agreement Amendment <br /> <br />Overview <br /> <br />After a year of more detailed analysis, working with the City on dealing with issues relative to <br />TCAAP, and the upcoming expenditure of significant funds, the Development Team has <br />indicated an interest in amending the Interim Development Agreement. Aside from a number of <br />housekeeping items (we know a lot more now then we did then) the primary purpose of the <br />amendment is to provide CRR greater certainty that if the City proceeds with the acquisition of <br />the property, they will indeed be the master developer, This of course is predicated on the two <br />parties coming to terms on a Disposition and Development Agreement within the term of the <br />interim agreement. <br /> <br />A copy of the revised agreement is attached for your review, A copy comparing the differences <br />between the approved agreement and the proposed amendment will be forwarded via e-mail <br />prior to the Work Session. Aside from providing the Development Team with master developer <br />status, the agreement also provides the City with more flexibility in the land use planning process <br />and allows us to update and revise our project budget. Since we are still waiting for a few <br />estimates, the budget is not final at this point. <br /> <br />Requested Action <br /> <br />1. Provided for discussion purposes <br />