City says Davis Exchange MOU is still being finalized; no new loan request reported
City staff updated commissioners that the memorandum of understanding for the Davis Exchange/IDP project remains under negotiation and that the developer’s current ask reflects the original loan commitment rather than a new $750,000 increase. Commissioners pressed for timelines and stronger contractual safeguards.
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City staff told the Albany City Commission on July 1 that the memorandum of understanding (MOU) for the Davis Exchange (IDP) project is still being finalized and will return to the commission for review when complete.
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