Title
Action on Resolution 25-097, a Resolution Authorizing the Extension of an Agreement to Transfer Real Property to the Brookings Economic Development Corporation for Economic Development Purposes
Body
Summary and Recommended Action:
In April 2023, the City of Brookings and its partners entered into a development agreement with Berry Properties, LLC, also known as Millborn Seeds, Inc., for approximately 13.09 acres of real property. The proposed Forbearance Agreement will extend the project timeline, providing Millborn additional flexibility to advance a successful development consistent with the intent of the original agreement. Staff respectfully recommends approval of the Forbearance Agreement.
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Attachments:
Memo
Resolution
Location Map
Forbearance Agreement