Title
Consider/Discuss/Act on an Amendment to the Chapter 380 Economic Development and Project Plan Implementation and Loan Agreement with Casey Advisory Group, Inc. (and The Cotton Mill Partners, Ltd., as Intervenor and Owner) for the Historic Cotton Mill Redevelopment Project
Summary
MEETING DATE: January 20, 2015
DEPARTMENT: Development Services-Planning
CONTACT: Matt Robinson, AICP, Planning Manager
Michael Quint, Director of Planning
RECOMMENDED ACTION:
* Staff recommends approval of the amendment extending the deadline for the completion of the private parking lot area to March 31, 2015 as outlined in the proposed amendment.
ITEM SUMMARY:
* The proposed amendment to the Chapter 380 Economic Development and Project Plan Implementation and Loan Agreement with Casey Advisory Group, Inc. ("CASEY") and The Cotton Mill Partners, Ltd. ("COTTON MILL") is to extend the deadline of the obligation to construct a 150 space (minimum) parking lot by 90-days (from January 1, 2015 to March 31, 2015).
* Under the agreement approved by the TIRZ #1 Board on March 17, 2014, CASEY and the COTTON MILL were to:
1. Complete the partially complete draft construction documents for the western parking lot that was prepared by City Staff;
2. Construct the concrete private parking lot to include a minimum of 150 new or refurbished parking lot spaces together with lighting, landscaping and irrigation features; and
3. Receive a "green tag" inspection of the parking lot by January 1, 2015.
* Due to delays during the design phase, commencement of construction of the parking lot was delayed and as such was unable to be completed by the stated January 1, 2015 deadline. More specifically, amendments to the Stormwater Drainage Ordinance, related to detention pond requirements impacted the overall design of the parking lot and resulted in a redesign and resubmittal of construction plans. Amendments to the Stormwater Drainage Ordinance wer...
Click here for full text