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DEVELOPMENT SERVICES MEMORANDUM <br /> Memo No. <br /> January 15, 2014 <br /> TO: Honorable Mayor Michael T. McElroy and City Council <br /> FROM: Ryan P. McCrady, City Manager <br /> Billy Tyus, Assistant City Manager <br /> SUBJECT: Second Amendment to Contract of Sale with Harrison Management Group, <br /> LLC for Property Located at Mound Center. <br /> SUMMARY RECOMMENDATION: Staff recommends approval of aid amendment <br /> extending the periods to satisfy or waive contractual conditions until Jamuary 29, <br /> 2014. <br /> BACKGROUND: As you know,we have been working to finalize an agreement with <br /> Harrison Management Group to help facilitate the development of an Ashley Furniture <br /> and other development at Mound Center. The contract for the sale of land (lot 2) <br /> approved in October 2013 initially gave a period of 45 days for certain conditions to be <br /> met, including entering into a redevelopment agreement and approval of certain <br /> construction plans. The redevelopment agreement is being considered a part of tonight's <br /> agenda, construction plans are in the final stages of review and this extension would <br /> allow for keeping with the terms of the sales contract. <br /> POTENTIAL OBJECTIONS: None <br /> INPUT FROM OTHER SOURCES: N/A <br /> STAFF REFERENCE: Questions concerning this item should be forwlarded to City <br /> Manager Ryan McCrady at 424-2801 (rmccrady@decaturil.gov) or Billy Tyus at <br /> 424-2727 or(btyus@decaturil.gov). <br />