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City to require construction of a minimum 3-5000 SF building and obtain a Certificate of <br /> 7 Performance Occupancy 16 months after Closing. If this is not done, the City may exercise the Right <br /> of Re-Entry Agreement. <br /> Alternatives: <br /> 1. Recommendation to City Council to approve Purchase Agreement and Right of Re-Entry Agreement as <br /> presented. (Staff recommendation) <br /> 2. Recommendation to City Council to approve Purchase Agreement and Right of Re-Entry Agreement with <br /> changes. <br /> 3. Something else. <br /> Funding Source: <br /> This case is being handled as part of normal Staff duties. <br /> Recommendation: <br /> Staff recommends a recommendation to the City Council of the attached Purchase Agreement and Right of <br /> Re-Entry Agreement as presented, subject to City Attorney review. <br /> As noted above. Planning Commission has yet to review this site concept so this will be handled during the site <br /> plan application process and is likely to change. <br /> Action: <br /> Motion to recommend that the City Council approve the attached Purchase Agreement and Right of Re-Entry <br /> Agreement for Purchase Agreement for Part of Outlot C,Affinity at COR, subject to City Attorney review. <br /> Attachments <br /> Site Location Map <br /> ACTION -PA COR Trust <br /> ACTION -RORE COR Trust <br /> Term Sheet- COR Trust <br /> Form Review <br /> Inbox Reviewed By Date <br /> Sean Sullivan(Originator) Sean Sullivan 08/03/2022 09:08 AM <br /> Brian Hagen Brian Hagen 08/05/2022 08:34 AM <br /> Form Started By:Sean Sullivan Started On:08/02/2022 09:39 AM <br /> Final Approval Date:08/05/2022 <br />