City of Brookings - File #: RES 18-099

• File #: RES 18-099
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 12/4/2018
• In control: City Council
• On agenda: 12/11/2018
• Final action: 12/11/2018
• Title: Action on Resolution 18-099, a Resolution Authorizing the City of Brookings to Amend the Brookings Marketplace Development Agreement.

Date	Ver.	Action By	Action	Result
12/11/2018	1	City Council	approved	Pass

Title

Action on Resolution 18-099, a Resolution Authorizing the City of Brookings to Amend the Brookings Marketplace Development Agreement.

Body

Summary:

Brookings Marketplace LLC has requested an amendment to the Development Agreement for a time extension.

Background:

The City of Brookings entered into a Development Agreement with Brookings Marketplace LLC for the development of the city owned 26 acre parcel on the northeast quadrant of Interstate 29 and 6^th Street.  Per the development agreement, a request for an extension was received by the City of Brookings by September 1, 2018.  The amendment proposes to amend the terms of the Development Agreement by providing a time extension to complete its due diligence.  Approval of the resolution would extend the period of time for the Developer to complete its due diligence to April 1, 2019.

Recommendation

Staff Recommendation:

Staff recommends approval.

Body2

Attachments:

Resolution 18-099

Amendment