Laserfiche WebLink
• , ,• . <br /> ! • . <br /> �� . . ECONOMIC &URBAN DEVELOPMENT DEPARTMENT MEMORANDUM <br /> #03-95 <br /> September 11, 2003 , <br /> TO: Honorable Mayor Paul Osbome and City Council Members �, <br /> FROM: Steve Garma , ty Manager i <br /> A.J. Krieger,A sistant City Man r <br /> SUBJECT: Holiday Harbor Development Agreement Amendment <br /> RECOMMENDATION: <br /> Approval of the attached resolution will amend the Holiday Harbor/waterpark <br /> Development Agreement between the City of Decatur and Real Estate Investors of , <br /> Decatur(R.E.I.D.). City staff recommends approval. � <br /> BACKGROUND: � <br /> In April of 2002 the City Council approved an Addendum to the Development <br /> Agreement between R.E.I.D. and the City of Decatur; originally approved in April of <br /> 2001. The April 2002 addendum clarified the City's reimbursement for certain <br /> infrastructure improvements necessary to develop the Holiday Harbor subdivision was <br /> contingent upon the construction of an indoor waterpark. The addendum included a <br /> repayment schedule should R.E.I.D. fail to substantially complete construction of an <br /> indoor waterpark by January of 2005. <br /> Subsequent to that addendum R.E.I.D. has prepared, and the City Council approved, a <br /> Planned Development to guide the development of the Holiday Harbor subdivision. <br /> R.E.I.D. has since petitioned to amend the approved Planned Development, and by doing <br /> so has created a discrepancy between the language in the original Development <br /> Agreement and the Planned Development. <br /> Among other infrastructure improvements, the original Development Agreement <br /> specified "...street lighting similar to that located on West Main Street, adjacent to the <br /> campus of Millikin University" as necessary in order to qualify for reimbursement. <br /> The lighting plan in the proposed amendment, while ornamental, is nonetheless different <br /> from what is described in the original agreement. <br /> Paragraph 1 of the proposed amendment merely changes the lighting requirement <br /> language to match the Planned Development; thus reconciling any discrepancies between <br /> the two documents. As stated in Paragraph 4, all other terms of both the original <br /> agreement and addendum remain in effect. <br /> POTENTIAL OBJECTION: <br /> City staff is not aware of any opposition to the attached resolution. <br /> INPUT FROM OTHER SOURCES: <br /> N/A <br /> STAFF REFERENCE: <br /> If Council members have questions they may contact A.J. Krieger, 424-2727, <br /> �krieger(a�decaturnet.org . <br />