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HRA Work Session 2.2. <br />Meeting Date: 03/20/2012 <br />By: <br />Title: <br />Update on offer to purchase land - West 30 Retail (Portions may be closed to the public) <br />Background: <br />The West 30 retail area is the portion of the project north of the newly realigned Sunwood Drive, east of <br />Armstrong, west of Zeolite, and south of Bunker Lake Boulevard. This is the area that was previously planned as <br />residential, but is now designed to facilatate large format retailer(s) that were contemplated in the revisiting of the <br />project. <br />The Development Team and the HRA have had extensive discussion with a number of parties on this parcel, and <br />has previously presented the HRA with an offer to purchase this area presented by Osborne Capital. Based on <br />direction of the HRA to proceed, discussions with Osborne have continued over the last several months and the <br />development team is close to finalizing and presenting this offer to the HRA for approval. <br />The development team would like to update the HRA on the current status of this purchase and obtain direction on <br />structuring this transaction. <br />Notification: <br />Observations: <br />Recommendation: <br />Funding Source: <br />N/A <br />Darren Lazan, Housing & <br />Redevelopment Authority <br />Information <br />Council Action: <br />Discussion and consensus direction on structuring the disposition of the West 30 retail area. <br />Form Review <br />Inbox Reviewed By Date <br />Heidi Nelson Jo Thieling 03/15/2012 03:23 PM <br />Kurt Ulrich Kurt Ulrich 03/15/2012 03:27 PM <br />Form Started By: Darren Lazan Started On: 03/15/2012 12:21 PM <br />Final Approval Date: 03/15/2012 <br />