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EURA approves third amendment to Cody Corner reimbursement agreement
Summary
The Eagle Urban Renewal Agency approved Resolution 26-004 to extend and amend the Cody Corner reimbursement agreement, splitting just over $1,000,000 in reimbursement across two fiscal years; Brady Lasher of Lasher Enterprises was recognized as the developer representative.
The Eagle Urban Renewal Agency on March 17 approved a third amendment to the reimbursement agreement for the Cody Corner development, authorizing agency officers and staff to execute the updated agreement and implement the resolution.
Executive Director said, “The agreement for Cody Corner expires at the end of this month,” noting prior amendments to increase allowable reimbursement because of inflation and a second time extension. The executive director also told the board they “do have Brady Lasher here from Lasher Enterprises who is is representing the developer.”
Staff explained the total reimbursement due the developer is slightly over $1,000,000 and that payments will be parsed across two fiscal years so the agency receives its full reimbursements from the county before reimbursing the developer. A commissioner asked for clarification of the payment schedule and pointed out a typographical error in the recitals; staff committed to correct the date error before execution.
The board moved and seconded approval of Resolution 26-004, and the roll-call vote was recorded as unanimous in favor. The motion authorizes the chair, vice chair and board secretary to sign the agreement and directs staff to take necessary actions to implement the resolution.
