Title
Tenth Amendment to the Commerce Project Development Agreement (B)
Explanation
Construction of Phase Two of Regents Park is in progress. The current default date for the completion of construction, as per the Development Agreement, is August 1, 2007. The developer, Gainesville Commerce Center Limited Partnership has indicated that this date will need to be extended. In order to keep the Development Agreement current, the dates in the original agreement need to be amended. On March 19, 2007 the CRA voted to approve the amendment and to further recommend it to the City Commission. The proposed completion date for Phase Two will move from August 1, 2007 to December 31, 2007.
Fiscal Note
None at this time
Recommendation
CRA to the City Commission: 1)Approve the amendment to the Development Agreement and authorize the Clerk to attest and the Mayor to execute the amendment.