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Post Falls URA approves third addendum to Owner Participation Agreement with A&A Construction, extends completion date to 2029
Summary
The commission approved a third addendum to the Owner Participation Agreement with A&A Construction Incorporated that moves the improvements completion date from Jan. 1, 2025, to Jan. 1, 2029, and adds reimbursement language for minor projects.
The Post Falls Urban Renewal Agency Commission voted Nov. 21, 2024, to approve a third addendum to the Owner Participation Agreement with A&A Construction Incorporated, extending the project completion deadline and adding language on reimbursement for minor projects.
Director Johns introduced the addendum, drafted by counsel Bredesen, explaining two primary revisions: paragraph 4.6 revises the improvements completion date from Jan. 1, 2025, to Jan. 1, 2029; paragraph 6.2.5 adds language pertaining to reimbursement of participant advances for minor projects. Johns stated the addendum had been reviewed and approved by William J. Lawson, president of A&A Construction Incorporated, and required only commission approval to proceed.
A commissioner moved to approve the addendum and authorize the chairman to sign; another commissioner seconded. A commissioner who worked with A&A on the minor projects program commented that staff had met with the contractor and described them as cooperative and helpful. The commission then held a roll call vote; each voting member recorded an "Aye," and the addendum was approved on the record.
The action authorizes the chairman to execute the addendum and incorporates the new completion date and reimbursement provisions into the Owner Participation Agreement. No amendments or conditions were recorded in the transcript; staff and counsel will handle final execution steps.
