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Committee agrees to hold development-agreement items while legal details are finalized
Summary
Petitioner requested a two-week hold on items 26-0334 and 26-0335; Assistant Corporation Counsel Patrick Collins said the development agreement is nearly finalized but negotiations remain on TIF, timing and coordination with state transportation agencies because the site is near a county line.
The petitioner requested that the committee continue (hold) agenda items 26-0334 and 26-0335 for two more weeks while the parties finalize a development agreement.
Assistant corporation counsel Patrick Collins told the committee the development agreement is "pretty much almost finalized" but noted several outstanding legal and interagency issues, including questions about tax-increment financing (TIF), the timing for construction, and coordination on road extensions with state transportation agencies because the site is close to a county line. "So there's a lot of moving parts with that," Collins said. He told the committee staff and the petitioner are negotiating with the petitioner’s attorney and expect to bring the development agreement back at the next meeting.
A committee member said they had additional questions but would wait for the next meeting when the revised agreement is expected. The committee agreed to hold the items for two weeks; no substantive action on the development agreement occurred at this meeting.
