Title
Resolution - A Resolution Rescinding Funding and Approval of Contract for Development Services with United Properties Southwest
Requested Action
Rescind the funding and approval of the development services contract with United Properties Southwest approved by City Council on March 5th, 2018
Recommendation
Rescind the funding and approval of the development services contract with United Properties Southwest approved by City Council on March 5th, 2018
Description/History
On March 5th, the development services contract with United Properties Southwest for the design and engineering of infrastructure to serve the MEDC owned 170 acres was placed on the Consent Agenda and approved by City Council 7 to 0. Since that time there has been a change in the development strategy for the site. The contract has not been executed and therefore, the funding and approval of this contract needs to be rescinded.
Justification
The contract and funding need to be formally rescinded.
Funding Source
4A
Prepared By
Richard Nevins, Assistant Director, 817-728-3652