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Agency staff reduce Eagle Ridge reimbursement request to $933,363.59, board directs circulation to developer
Summary
Staff told the board that Eagle Ridge OPA invoices totaling $1.4 million included $454,207.58 already reimbursed to a third party, leaving $933,363.59 of eligible costs; the board directed staff to circulate a draft confirmation to the developer and return with the item in May.
Agency legal staff and the redevelopment director discussed a draft confirmation of reimbursement for the Eagle Ridge owner participation agreement at the end of the agency’s April meeting.
Megan told the board that the OPA developer had submitted costs totaling $1,400,000 but that $454,207.58 had been reimbursed to a third…
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