Workshop Item - Erik Thorvig, Community Development Director
Title
Title
Review of 105th Avenue Development Agreement
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Background
In November, a master developer was selected for the 105th Avenue Redevelopment Area through an RFP process. The first step in the process is to execute a development agreement between the Blaine Economic Development Authority (EDA) and the developer.
A draft agreement was prepared by the EDA’s legal counsel and provided to the developer. The developer provided comments and changes to the agreement. In general, most of the proposed changes can be negotiated between the two parties, however, there are several outstanding items that need feedback and direction from the EDA.
The developers’ revisions are currently being reviewed by the EDA’s legal counsel. A meeting will likely occur between the two parties at the end of the week of December 5 to discuss the revisions and determine any outstanding items that require additional consideration from the City Council/EDA.
A revised document will be provided to the City Council/EDA after this meeting occurs and prior to the workshop on December 12. The goal is to have a final agreement approved at the EDA regular meeting on December 19.
Staff Recommendation
Discuss the outstanding items and provide direction to staff and the developer.
Attachment List
A revised document will be provided via email prior to the December 12 meeting.