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ECONOMIC AND URBAN DEVELOPMENT MEMORANDUM <br />� No. 06-212 <br /> August 31, 2006 <br /> TO: Mayor Paul Osborne and City Council Members <br /> FROM: Steve Garma ity Manager <br /> Dane C. Bra Assistant City Managef� <br /> /" <br /> SUBJECT: Operating& asement Agreement Amendment—Olive Garden <br /> SUMMARY RECOMMENDATION: Staff recommends approval of the attached <br /> amendment to the Operation & Easement Agreement (OEA) amendment for the Mound <br /> Center tract. The amended agreement allows for certain items requested by Olive Garden <br /> such as a third building sign and parking provisions to the benefit of the Olive Garden tract. <br /> BACKGROUND: The City entered into a purchase contract with GMRI, Inc. in March <br /> 2006. The attached OEA amendment is required in order to close with Olive Garden and <br /> begin the construction project. The sales is expected to close next week, pending Target <br /> Corporation execution of the attached amendment. <br /> POTENTIAL OBJECTION: N/A. <br /> INPUT FROM OTHER SOURCES: The proposal has been reviewed by Corporation <br /> Counsel, the City's broker for the site, Blackstone Group and representatives of Target <br /> Corporation and GMRI, Inc. <br /> STAFF REFERENCE: Any additional questions may be forwarded to Dane Bragg at 424- <br /> 2727 ar dbrag�(�decaturnet.org. <br /> BUDGET/TIME IMPLICATIONS: N/A. <br />