Laserfiche WebLink
HRA Regular Session <br />Meeting Date: 08/28/2012 <br />By: Darren Lazan, Housing & <br />Redevelopment Authority <br />5. 3. <br />Information <br />Title: <br />Review COR TWO fees and construction cost allocation <br />Background: <br />The development of the Sunwood retail area requires considerable shared construction and fee allocation due to the <br />common access and utility improvements associated with the project. The development team has worked with <br />staff, counsel, and the three buyers on this site to establish an equitable allocation of both the development fees <br />associated with the plat, and the construction of common improvements such as access drives, sanitary sewer, <br />watermain, storm sewer, signage, and landscaping. <br />Notification: <br />Observations: <br />The development team will present the current allocations and staging for these improvements, as well as a funding <br />scenario for staging these improvements. <br />Recommendation: <br />The development team recommends the HRA approve the proposed allocation of development fees and <br />construction costs, and direct the team to incorporate necessary language into current purchase agreements. <br />Funding Source: <br />Land sale proceeds as loan prior to disbursement. <br />Council Action: <br />Approve the proposed allocation of development fees and construction costs, and direct the development team to <br />incorporate necessary language into current purchase agreements. <br />Initial Improvements <br />Proposed Fee Allocation <br />Proposed Construction Cost Allocation <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich Kurt Ulrich 08/23/2012 03:48 PM <br />Form Started By: Darren Lazan Started On: 08/23/2012 11:49 AM <br />Final Approval Date: 08/23/2012 <br />