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
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
Prepared By
Joe Smolinski, Deputy City Manager
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