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Memorandum <br /> <br /> <br />Date: June 18, 2021 <br /> <br />To: Honorable Mayor and City Council <br /> <br />ity Administrator/Engineer <br /> <br /> <br /> <br />The city has entered into a Memorandum of Understanding (MOU) with Centra Homes <br />for the development of the City-owned Block 7 Property in the Downtown area. The <br />(RFP), for the development of the propert <br />eir proposed contribution to the site <br />development costs and any commitments they were seeking from the city. <br /> <br />ment was to bear all of the development <br />costs with the exception of paying just $1 for the land and requesting a cap on <br />Streetscaping costs at $100,000. This statement was based on their proposed layout for <br />the project which featured 24 units, half of which faced east, the other half west, with a <br />central alley serving the homes from the rear. <br /> <br /> <br />Site Layout Discussion <br />As Centra Homes, city staff, the city <br />Council have explored various design alternatives over the past few months, we have <br />landed on a preferred concept. The concept is materially different from the proposal in <br />two ways: <br />1) There are 250 more lineal feet of internal roads and 10 additional parking <br />spaces <br />2)There are 3 additional units <br />The additional road and parking areas require additional investment, while the 3 <br />additional units provide additional revenue. The net affect of these two cost factors is an <br />increase in project costs of $80,000. <br />Therefore, the developer is asking the city to agree to an additional contribution of <br />$80,000 if the preferred layout is used. <br /> <br />