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JPA approves amendment to Canopy Park redevelopment agreement; plaza references removed
Summary
Amendment No. 2 to the Canopy Park redevelopment agreement removes the previously planned Seventh and End Plaza and reallocates associated TIF proceeds; JPA obligations remain unchanged, and the project sale is complete.
The West Haymarket Joint Public Agency approved Amendment No. 2 to the Canopy Park redevelopment agreement among the City of Lincoln, the JPA, the developer, and the Lincoln Haymarket Development Corporation.
Assistant city attorney Tim C. told the board the amendment removes references to the Seventh and End Plaza from the redevelopment agreement because that plaza is no longer part of the south Haymarket park project. Tax increment financing (TIF) proceeds that were allocated for that plaza have been reallocated; Tim C. said that reallocation is largely a transaction between the city and the developer and does not change the JPA’s commitments under the agreement.
Tim C. also said the sale of the property associated with the project was completed and that the overall development is complete. Board members voted 3‑0 to approve the amendment.
No members of the public addressed the item during the meeting; staff offered to answer questions, and none were raised at the time of the vote.
