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2 - FIRST AMENDMENT TO OPTION AGREEMENT_2020-12-15
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2 - FIRST AMENDMENT TO OPTION AGREEMENT_2020-12-15
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12/14/2020 11:28:29 AM
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12/14/2020 11:25:10 AM
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City Clerk
Agency
Community Development
Item #
2
Date
12/15/2020
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EXHIBIT 2 <br />County and Authority Staff Approved Additional Scope <br />Required by OCHCA — Based on County and City review, the <br />Developer was able to reduce the cost for OCHCA's required <br />additional scope to $11,104 on September 22, 2020. The <br />September County and City approved this scope on September 23, 2020 <br />that increased the Developer's total ESA Phase II costs from <br />$117,915 to $129,019. <br />Site work for borings, probe installations and gas sampling <br />occurred between September 30, 2020 and October 6, 2020. <br />Lab Results from Site Assessment Provided to County <br />and Authority staff — Altec provided lab results, findings and <br />October 27, 2020 summary narrative to the County and City for review in <br />preparation for a decision on whether or not to accept the <br />FCAA tax credits reservation. <br />Developer Accepted Preliminary Reservation of Tax <br />Credits — Developer Submitted Preliminary Reservation <br />Letter, Carryover Allocation Agreement, and the two non- <br />refundable payments for TCAC Allocation Fee ($107,386) and <br />TCAC Performance Deposit ($107,386). <br />Developer and County Discuss Next Steps prior to First <br />Amendment to Option Agreement — Developer, County and <br />November 16. 2020 both of their environmental consultants discussed next steps <br />and estimated budgets for the next phase of recommended <br />site assessment. <br />2-10 <br />
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