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<br />, <br /> <br />~ <br />~ILLS <br /> <br />MEMORANDUM <br /> <br />. <br /> <br />DATE: <br /> <br />March 17, 2005 <br /> <br />Agenda Item 2.F <br /> <br />FROM: <br /> <br />Mayor and Council <br />Michelle Wolfe, City Administrator <br /> <br />Scott Clark; Community Development Director0 <br /> <br />TO: <br /> <br />SUBJECT: <br /> <br />TCAAP Interim Agreement #2 <br /> <br />The purpose of this memorandum is to outline the discussion questions for the need of a new <br />Interim Agreement between the City and CRR, LLC. The Interim Agreement Amendment No. I <br />Extension of Term (attached along with the original agreement) will expire on May 9,2005. In <br />order to continue the TCAAP process a new amended agreement will need be to be adopted. <br />This new amended agreement can be viewed as a bridge to the Master Development Agreement <br />stage and completion. <br /> <br />. Questions to be discussed: <br /> <br />1) Is there a true commitment to proceed? It is my opinion that the development group <br />will be looking for stronger contract language that ensures them that ifthe economics <br />of the TCAAP transaction works that CRR, Inc will be the developer. <br /> <br />2) Based on the same concerns as #1, the key issue in the new agreement is how we <br />handle the additional costs that the developer will be incurring as the TCAAP process <br />moves forward. The Interim Agreement Amendment, dated October 25, 2004 states <br />that any planning, engineering and legal services will be reimbursed back to CRR, <br />LLC if the City enters into a new development agreement with a new developer <br />within 3 years. (Item F) <br /> <br />The City will be asking, in a new agreement, for additional escrow fees to pay for a <br />Local Resource Plan, financial consultant fees assisting with determining the costs <br />associated with the Framework Vision and legal fees in completing the FOSET and <br />related early transfer documents and potential fees associated with preparing for <br />negotiations of a Master Development Agreement. The Council should discuss their <br />willingness to include this in the same manner as in the amended agreement. <br /> <br />e <br /> <br />The second issue that could be raised will be costs associated with the AUAR <br />(environmental assessment process). In order to move the project along on schedule, <br />this process will need to happen in June/July. Since the City and developer will be <br />negotiating a Master Development Agreement (again based on a schedule to get us to <br />