Council authorizes staff to finalize two development-agreement amendments, delegates execution to mayor and clerk
The Common Council voted to authorize staff to finalize the seventh amendment to the 84 South development agreement and the second amendment to the Lumis Crossing agreement, delegating final execution to the mayor and clerk once exhibits and shortfall covenants are in place.
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Alder person Sarian moved to authorize staff to finish ministerial edits to the two amendments (seventh amendment to the 84 South/TID 6 development agreement and second amendment to the Lumis Crossing/TID 8 agreement) and to delegate execution to the mayor and clerk once final exhibits (including the financial consultant Ellers’ validation of projections and recorded shortfall covenants) were complete. Alder person Bailey seconded the motion.
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