7.0.
CC Regular Session
- Meeting Date:
- 04/27/2021
- Submitted For:
- Sean Sullivan
- By:
- Tim Gladhill, Community Development
Information
Title:
Adopt Resolution #21-121 Approving Purchase Agreement Extension for Gigi's Salon
Purpose/Background:
Economic Development Manager Sean Sullivan has prepared the following case.
The purpose of this case is to consider an extension to the Purchase Agreement for Gigi's Salon. Staff apologizes for the late addition to the agenda; however, it was discovered that a couple more weeks was needed to finalize closing of financing for the project. All site plan, plat and other land use application requirements have been approved. Financing has been approved locally, just awaiting final approvals. Staff is confident that closing on financing will occur, which will allow the project to pay development fees, which will allow the plat to be recorded in turn opening up the final closing on the land/site purchase.
Unfortunately, the current closing date occurs before the next Council Meeting, otherwise this case would have been forwarded to the 5/11 City Council Meeting.
See attached materials for more detail.
The purpose of this case is to consider an extension to the Purchase Agreement for Gigi's Salon. Staff apologizes for the late addition to the agenda; however, it was discovered that a couple more weeks was needed to finalize closing of financing for the project. All site plan, plat and other land use application requirements have been approved. Financing has been approved locally, just awaiting final approvals. Staff is confident that closing on financing will occur, which will allow the project to pay development fees, which will allow the plat to be recorded in turn opening up the final closing on the land/site purchase.
Unfortunately, the current closing date occurs before the next Council Meeting, otherwise this case would have been forwarded to the 5/11 City Council Meeting.
See attached materials for more detail.
Recommendation:
Staff recommends approval of the extension.
Action:
Motion to adopt Resolution #21-121 granting purchase agreement extension for Gigi's Salon.
Attachments
Form Review
- Form Started By:
- Tim Gladhill
- Started On:
- 04/26/2021 05:18 PM
- Final Approval Date:
- 04/26/2021