Laserfiche WebLink
Alternatives: <br />Alternative 1: Adopt Resolution #21-261 approving Amendment No. 2 to the Development Agreement for COR <br />Sapphire Addition. <br />Alternative 2: Motion of other. <br />Funding Source: <br />Amendment No. 2 extends the construction due date thereby allowing the developer to obtain a more reasonable bid <br />so the Center Street improvements can be constructed at a cost more closely aligned with the estimated costs <br />identified in Amendment No. 1. <br />The City's estimated not -to -exceed cost share remains at $141,740.15 as outlined in Exhibit B of Amendment No. <br />1, and all City costs are still proposed to be paid from TIF 14. The Developer is still responsible for their share of <br />project costs estimated at an amount of $12,410.85 as outlined in Amendment No. 1. <br />Recommendation: <br />Staff recommends adoption of Resolution #21-261 approving Amendment No. 2 to the Development Agreement for <br />COR Sapphire Addition. These improvements were intended to be constructed this spring but due to various <br />circumstances were not yet constructed. The developer and the City have received numerous complaints this year <br />regarding the overall lack of pedestrian facilities along this segment of Center Street. <br />Action: <br />Motion to adopt Resolution #21-261 approving Amendment No. 2 to the Development Agreement for COR <br />Sapphire Addition. <br />Resolution 21-261 <br />Center Street Plans <br />COR Sapphire DA <br />COR Sapphire DA Amendment No 2 <br />COR Sapphire DA Amendment No 1 <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich Kurt Ulrich 09/09/2021 03:52 PM <br />Form Started By: Bruce Westby Started On: 09/07/2021 08:53 AM <br />Final Approval Date: 09/09/2021 <br />