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: May 5, 2015
DEPARTMENT: Development Services-Planning
CONTACT: Matt Robinson, AICP, Planning Manager
Michael Quint, Director of Planning
RECOMMENDED ACTION:
* Staff is not opposed to the requested extension of the deadline for completion of the private parking lot area to October 31, 2015.
ITEM SUMMARY:
* The proposed Second 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 repeal the existing First Amendment and extend the deadline of the obligation to construct a 150 space (minimum) parking lot to October 31, 2015.
* Under the agreement approved by the TIRZ #1 Board on March 17, 2014 and subsequently amended by the TIRZ #1 Board on January 20, 2015 meeting, 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 March 31, 2015.
* Per the applicant, because of delays caused by weather and long waits for concrete scheduling from the concrete plant, completion of the parking improvements were unable to be completed by the stated March 31, 2015 deadline extension. Delays to the project were initially encountered during the planning phase, which necessitated an extension of the original January 1, 2015 deadline. More specifically, amendment...
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