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II Performance <br />City to require construction of a minimum 3-5000 SF building and obtain a Certificate of 'I <br />Occupancy 16 months after Closing. If this is not done, the City may exercise the Right II <br />of Re -Entry Agreement. <br />Alternatives: <br />1. Adopt Resolution #22-186 Approving Purchase Agreement and Right of Re -Entry Agreement for Part of <br />Outlot C, Affinity at the COR as presented.; subject to City Attorney Review <br />2. Adopt Resolution #22-186 Approving Purchase Agreement and Right of Re -Entry Agreement for Part of <br />Outlot C, Affinity at the COR with changes; subject to City Attorney Review <br />3. Something else. <br />Funding Source: <br />This case is being handled as part of normal Staff duties. <br />Recommendation: <br />The EDA met on August 11, 2022 and unanimously recommended that the City Council approve the attached <br />Purchase Agreement and Right of 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 Adopt Resolution #22-186 Approving Purchase Agreement and Right of Re -Entry Agreement for Part of <br />Outlot C, Affinity at the COR, subject to City Attorney review. <br />Site Location Map <br />ACTION - Resolution #22-186 <br />ACTION - PA COR Trust <br />ACTION - RORE COR Trust <br />Draft Building Elevations <br />Term Sheet - COR Trust <br />REFERENCE - Excerpt EDA Min 8.11.22 <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Sean Sullivan (Originator) Sean Sullivan 08/15/2022 10:02 AM <br />Brian Hagen Sean Sullivan 08/17/2022 04:00 PM <br />Sean Sullivan (Originator) Sean Sullivan 08/17/2022 04:04 PM <br />Brian Hagen Brian Hagen 08/18/2022 02:17 PM <br />Form Started By: Sean Sullivan Started On: 08/11/2022 02:22 PM <br />Final Approval Date: 08/18/2022 <br />