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HRA Work Session 2. 2. <br />Meeting Date: 07/17/2012 <br />By: Darren Lazan, Housing & <br />Redevelopment Authority <br />Information <br />Title: <br />Consider Offer to Purchase Land - Drive-Thru Restaurant (portions may be closed to the public) <br />Background: <br />Over the past several months, the development team has worked with a national fast food user to establish a <br />location in The COR. They had considered a number of locations previously, but were unable to commit to a site <br />until the Sunwood Realignment was finalized and underway. With the certainty of that project, they have come <br />forward and presented a term sheet on the parcel in the SE corner of the new Sunwood/Armstrong intersection. <br />This deal is now moving quickly, and the regional representative is in town next week to finalize the approvals. <br />The development team will review the current offer with the HRA and present detailed information at the meeting. <br />Notification: <br />Observations: <br />Recommendation: <br />The development team recommends the HRA consider the proposed terms presented at the meeting, and provide <br />consensus direction on proceeding to purchase agreement with this buyer. <br />When completed, a purchase agreement will be presented for your consideration and approval at a regular meeting <br />of the HRA. <br />Funding Source: <br />N/A <br />Council Action: <br />None. Consensus direction only at this time. <br />Site Location Map <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich Kurt Ulrich 07/12/2012 03:20 PM <br />Form Started By: Darren Lazan Started On: 07/12/2012 08:37 AM <br />Final Approval Date: 07/12/2012 <br />