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Council authorizes Mayor to sign TID#2 Developer Agreement with Shannon Capital
Summary
The council approved the Developer Agreement for TID#2 with Shannon Capital, authorizing Mayor Bill Gough and Finance Officer Lydia Morley to sign after city-attorney review; the agreement puts previously approved TIF/TID terms into contract form.
Council approved the TID Developer Agreement (TID#2) with Shannon Capital on a unanimous vote. Macayla/Micayla Bamberg of Morgan Theeler LLP appeared on behalf of Shannon Capital and clarified the document's purpose was to place previously approved TIF/TID terms into a formal contract. The council confirmed the agreement had been reviewed by City Attorney Theresa Maule before the vote.
The motion authorized Mayor Bill Gough and Finance Officer Lydia Morley to sign the agreement. Council discussion centered on ensuring legal review was complete and that the developer agreement matched prior approvals; no amendments to the contract text were recorded in the minutes.
