Agenda - Council - 06/11/2019 - Laserfiche WebLink

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Community Development Director Gladhill reviewed the staff report and recommendation from the EDA to approve the Second Amendment to the Purchase Agreement with AEON Ramsey 2, LLC to extend the closing date until January 13, 2020, including an additional $10,000 in non- refundable earnest money. All other terms, including the purchase price are to remain the same. Councilmember Musgrove asked the total amount of earnest money thus far for this purchase agreement. Community Development Director Gladhill replied that the City has collected $20,000 thus far and this would be an additional $10,000 for a total of $30,000. Councilmember Riley stated that the EDA supported the staff recommendation. Motion by Councilmember Riley, seconded by Councilmember Kuzma, to approve the Second Amendment to the Purchase Agreement with AEON Ramsey 2, LLC, subject to approval by the City Attorney as to legal form. Further discussion: Councilmember Kuzma stated that should the extension go beyond this approved date he would want to see a renegotiation on the purchase price. Councilmember Riley noted that the EDA and staff also supported renegotiation of the purchase price if AEON seeks additional extensions after this approved date. Motion carried. Voting Yes: Mayor LeTourneau, Councilmembers Riley, Kuzma, Heinrich, and Musgrove. Voting No: None. 7.04: Adopt Resolution #19-131 Acknowledging Receptivity to Livable Communities Funding for Greenway Terrace 2nd Addition; Case of AEON Community Development Director Gladhill reviewed the staff report and recommendation to submit receptivity to the Metropolitan Livable Communities Grant on behalf of AEON for Greenway Terrace 2nd Addition. Although indirectly related and not specifically requested for recommendation on the grant itself, the EDA did recommend approval of the Purchase Agreement related to this project. Additionally, the Planning Commission previously recommended approval of the overall concept plan for both phases of Greenway Terrace. Councilmember Riley asked if there would be adequate parking provided. Community Development Director Gladhill stated that the minimum parking standards would need to be met and would be walked through as part of the site plan process. Councilmember Riley stated that although there is mention of a City match of funds, the difference in the sale price would appear to meet the requirement for that match. Mayor LeTourneau stated that it is his understanding that decision is not being made tonight. City Council / May 28, 2019 Page 9 of 13