8.a.
FPRA Regular Meeting
- Meeting Date:
- 04/08/2025
- Re
- King's Landing Third Amendment
- Submitted For:
- Sara Hedges
SUBJECT:
Moved from 8f to 8a. FPRA Resolution 25-07 approving or denying the Third Amendment to the Amended and Restated Agreement for Development of King's Landing.
SUMMARY:
Pursuant to the Second Amendment to the Amended and Restated Agreement for Development of King's Landing, Audubon Development ("Audubon") had 180 days from the effective date of the Second Amendment to finalize its Joint Venture Partnership with Harbert Realty Services, LLC ("Harbert"). Audubon has requested an amendment to permit the replacement of Harbert with Live Oak Holdings Group ("Live Oak") pursuant to a Purchase and Sale Agreement.
RECOMMENDATION:
Staff will proceed as directed.
ALTERNATIVES:
Staff will proceed as directed.
RESPONSIBLE STAFF:
Sara Hedges, City Attorney
COORDINATED WITH:
DeVoshay Johnson, Interim City Manager
Shyanne Harnage, Community Redevelopment Agency Administrator
Shyanne Harnage, Community Redevelopment Agency Administrator
Fiscal Impact
OTHER INFORMATION:
No fiscal impact at this time.
Attachments
- FPRA 25-07
- Third Amendment and Exhibits
- Purchase and Sale Agreement
- First Amendment to Purchase and Sale Agreement
- Amended and Restated Agreement
- First Amendment
- Second Amendment