Update on offer to purchase land - West 30 Retail (Portions may be closed to the public)

The West 30 retail area is the portion of the project north of the newly realigned Sunwood Drive, east of Armstrong, west of Zeolite, and south of Bunker Lake Boulevard. This is the area that was previously planned as residential, but is now designed to facilatate large format retailer(s) that were contemplated in the revisiting of the project.

The Development Team and the HRA have had extensive discussion with a number of parties on this parcel, and has previously presented the HRA with an offer to purchase this area presented by Osborne Capital.  Based on direction of the HRA to proceed, discussions with Osborne have continued over the last several months and the development team is close to finalizing and presenting this offer to the HRA for approval.

The development team would like to update the HRA on the current status of this purchase and obtain direction on structuring this transaction.

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Discussion and consensus direction on structuring the disposition of the West 30 retail area.