Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
Council tables economic development grants resolution for Denison Housing Development LLC amid drafting and calculation questions
Summary
Councilors raised multiple drafting questions about a proposed development agreement and found the resolution's figures inconsistent; after a request for redlines and clarifications the council voted to table the item for staff revision.
Denison — City Council members asked staff for clarifications and textual edits to a development agreement and resolution tied to Denison Housing Development LLC before approving grant payments tied to a 16th Street project, and moved to table the item.
Staff said the resolution and development agreement were drafted by bond counsel and that the project involves a developer identified in the packet. Multiple council members recommended changes to phrasing that could obscure ownership, to how previously constructed units are referenced, and to language about reversion of ownership if taxes are unpaid.
A councilor also pointed out a discrepancy between the per-unit payment shown in the resolution and the total listed; the presenter agreed the numbers should match and staff was directed to reconcile the math. Council asked that the development agreement mark previously completed units clearly and that paragraphs be edited to avoid ambiguity about ownership and tax-reversion language.
After discussion the council voted to table the resolution and asked staff to return with corrected redlines and clarified figures. A council member offered to email annotated PDF edits to staff following the meeting.
What happens next: Staff will revise the resolution and development agreement language and correct any calculation errors before returning the item to council.
