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Eagle urban renewal board approves $253,280 reimbursement to MJV Properties for Cadenza Court
Summary
The Eagle Urban Renewal Agency approved Resolution 25-023 to reimburse MJV Properties LLC $253,280 for the Cadenza Court project after staff and the agency's accounting firm reviewed receipts and documentation.
The Eagle Urban Renewal Agency on Nov. 18 approved a $253,280 reimbursement to MJV Properties LLC tied to the Cadenza Court project. Executive Director Ashley told the board staff and the agency's accounting firm had reviewed the receipts and documentation and found them in order.
"The reimbursement agreement allows up to reimbursement of $253,280," Ashley said. Developer Brady Lascher, identified for the record as the developer for the project, told the board he represented the developer but said the ownership and next steps for construction remained unclear. "I was the developer out there on Cadenza ... they own the lot still," Lascher said.
Board member [Committee member (S5)] moved to approve Resolution 25-023, which authorizes the chair, vice chair, secretary and executive director to take necessary actions to implement the reimbursement; the motion carried on a roll-call vote with all members voting aye. The board noted the expenditures exceeded the reimbursement cap and approved payment pursuant to the existing agreement.
Next steps announced at the meeting include routine implementation steps by staff and the usual delegation of administrative authority to execute the reimbursement agreement. No further conditions were added to the resolution.
