File #: 20-3476    Version: 1 Name: Resolution - A Resolution Approving an Amendment to the Chapter 380 Economic Development Agreement with M-3 Ranch Development Inc.
Type: Resolution Status: Passed
File created: 2/27/2020 In control: City Council
On agenda: 3/2/2020 Final action: 3/2/2020
Title: Resolution - A Resolution Approving an Amendment to the Chapter 380 Economic Development Agreement with M-3 Ranch Development Inc.
Sponsors: Joe Smolinski
Attachments: 1. Resolution, 2. Original M3 Ranch 380 Econ. Dev. Agreement

Title

Resolution - A Resolution Approving an Amendment to the Chapter 380 Economic Development Agreement with M-3 Ranch Development Inc.

 

Requested Action

Approval of amendment to agreement.

 

Recommendation

Approval of amendment to agreement.

 

Description/History

On July 9, 2018 the City Council passed Resolution No. RE-3480-18 approving a Chapter 380 Economic Development Agreement with M-3 Ranch Development, Inc.  The developer approached the city requesting an ninety (90) day extension to the completion date of Phase I Public Improvements due to weather related delays.  The original contract states that Phase I improvements were to commence on June 30, 2019 and construction completed within twenty-four (24) months after commencement.  If approved, this will extend the completion of construction on Phase I improvements to September 30, 2021.

 

Justification

N/A

 

Funding Source

N/A

 

Prepared By

Joe Smolinski, Deputy City Manager

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