Laserfiche WebLink
MEMORANDUM <br />To: Honorable Mayor and City Council Date: December 11, 2019 <br />From: Kristine Ridge, City Manager <br />Subject: Review and Analysis of Comments Regarding 2525 N. Main Development Project <br />This memorandum responds to the Mayor and City Council request for a staff review and analysis of <br />comment letters received from Dale Helvig, Mark Rothenberg, and Ellen Koldewey pertaining to the <br />2525 N. Main development project submitted during the second reading hearing on December 3, <br />2019. <br />Responses to the various business points are presented below and following that please find <br />recommended refinements to the Development Agreement. All legal concerns raised have been <br />addressed in a separate memorandum by the City Attorney. <br />Point Raised: The Agreement should also obligate the lender to the terms and it should be <br />enforceable for a 55-year period. <br />Response: <br />• The term of the Agreement is 4 years with two optional 1-year extensions, for a total of 6 <br />years, subject to approval by the City Council and a $50,000 payment for each extension. <br />The 4-year term is considerably shorter than a conventional developer agreement to <br />incentivize developer to complete the project sooner rather than later. <br />• The Agreement and all surviving provisions would be applicable to all parties including the <br />mortgagee (lender) and parties with ownership interests in the property in whole or in part. <br />• Project conditions and obligations surviving the term of the Development Agreement would <br />be enforceable through zoning requirements specific to the property and/or within <br />recorded instruments such as the maintenance agreement and public access easement(s) <br />that run with the land regardless of project ownership. <br />• The Development Agreement establishes performance deadlines by linking the issuance of <br />construction permits and/or occupancy approval to the completion and approval of the <br />various plans and agreements by the City ensuring compliance prior to construction and <br />occupancy of the development. <br />1 <br />11 A-3 <br />