Title
Board Discussion and Possible Action on Request from Nationwide Construction to Extend the Deadline in Their Economic Development Agreement for Obtaining a Certificate of Occupancy to April 30th, 2017.
Requested Action
Approve Request from Nationwide Construction to Extend the Deadline in Their Economic Development Agreement for Obtaining a Certificate of Occupancy to April 30th, 2017
Recommendation
Approve Request from Nationwide Construction to Extend the Deadline in Their Economic Development Agreement for Obtaining a Certificate of Occupancy to April 30th, 2017
Description/History
On November 17, 2015 MEDC entered into an Economic Development and Peformance Agreement with Nationwide Construction to assist with the development of their new facility at 721 5th Avenue. This agreement required Nationwide to obtain a Certificate of Occupancy by December 31, 2016. Due to unforeseen circumstances, Nationwide encountered some delays and is therfore requesting an extension of the deadline for obtaining a CO to April 30, 2017.
Justification
Nationwide will meet all other the terms of the agreement
Funding Source
4A
Prepared By
Richard Nevins, Assistant Director,817-728-3652