Title
Update on Redevelopment Projects and Development Agreements (NB)
Explanation
Staff has been asked to provide an update on several redevelopment projects and development agreements under review. This update is a sampling of the many projects underway by the CRA, and is not a complete list.
Organization Updates:
Staff welcomes their new Staff Assistant, Stephanie Seawright to the Agency.
Staff has executed the contracts with Conceptual Arts. The new website will allow citizens and vendors to navigate to areas for project updates, CRA area maps, and redevelopment assistance programs.
Staff will add a Referral update to next month's agenda to be included in all successive agendas.
Development Agreements:
University House on 13th Street - Located at the northeast corner of Northwest 13th Street and Northwest 7th Avenue is not being negotiated due to the Strand decision.
University Corners - Located on the west side of Northwest 13th Street between University Avenue and Northwest 3rd Avenue is not being negotiated due to the Strand decision.
Hampton Inn/Lot 9 - Located at the intersection of SE 1st Street and SE 1st Avenue. At the July 16th meeting, the CRA approved a revised proposal for the development of a Hampton Inn in the Downtown. The net present value of incentives approved by the CRA is approximately $802,000. These incentives are very similar to those initially requested by the developer in 2005. The development agreement is currently not being negotiated due the Strand decision.
Project Updates:
Downtown Farmers Market - At the August 20, 2007 CRA meeting, Charlie Lybrand of the downtown farmers market addressed the Board. The weekly market is currently housed in the Sun Center, however due to successful growth, they would like to expand and relocate to the Downtown Plaza. CRA Staff has been working closely with Mr. Lybrand as well as with City Staff from various departments in order to fac...
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