5.2.
HRA Work Session
- Meeting Date:
- 09/06/2011
- By:
- Darren Lazan, Housing & Redevelopment Authority
Title:
Consider Letter of Intent - West 30 Retail (Portions may be closed to the public)
Background:
The development team has been working with a retail development group on an agreement to develop the westerly 30 acres of retail property. This area, creatively dubbed 'The West 30' for now, consists of the the proposed anchor retailer, and the remainder of the property west of Zeolite and north of Sunwood Drive. It does not include the area previously reviewed by the HRA that is created as part of the Sunwood Drive realignment.
As you may expect, this will be a very complicated agreement that will span the 3-5 years we believe it will take to realize the retail component of the project. There are still a number of items such as TIF and infrastructure improvements that the development team needs to resolve with the proposed purchaser.
As you may expect, this will be a very complicated agreement that will span the 3-5 years we believe it will take to realize the retail component of the project. There are still a number of items such as TIF and infrastructure improvements that the development team needs to resolve with the proposed purchaser.
Recommendation:
The development team would like to present the proposed Letter of Intent (LOI) in draft form for the HRAs consideration and comments in a work session environment.
Funding Source:
N/A
Council Action:
None
Attachments
No file(s) attached.
Form Review
- Form Started By:
- dlazan
- Started On:
- 09/01/2011
- Final Approval Date:
- 09/01/2011