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Council approves reimbursement agreement authorization for predevelopment costs on proposed housing site
Summary
The council approved a resolution authorizing a reimbursement agreement allowing developers to be reimbursed for certain predevelopment studies if a proposed transaction closes or otherwise benefits the city; staff said typical costs include environmental studies, appraisal, survey and title work.
The Fruita City Council approved Resolution 2025-24, authorizing the city to enter a reimbursement agreement regarding predevelopment costs for a proposed real estate transaction and development with a private entity referenced in staff comments as "Prop 123."
Dan Carris, assistant city manager, told the council the resolution authorizes the city to establish an agreement to reimburse certain predevelopment expenses that private entities incur while pursuing a purchase and potential development of city-owned or jointly owned real…
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