Title
Amendment to the Commerce Project Development Agreement (B)
Explanation
Construction issues delayed the completion date for the Regents Park Residential Project for several months during the spring and summer of 2004. AMJ has obtained temporary Certificates of Occupancy for the Phase I units and owners should be moving in before the first of the year. Those delays have impacted the start date for Phase 2 of the project. In order to keep the Development Agreement current, the dates in the original agreement need to be amended. The proposed start date of the Regents Park residential project Phase 2 will move from February 1, 2005 to August 1, 2005. All other subsequent dates will move accordingly.
Fiscal Note
None at this time
Recommendation
Executive Director to the CRA: 1) Recommend the CRA approve the amendment to the development agreement and authorize the Executive Director to execute the amendment; and 2) request the City Commission approve the amendment, authorize the Clerk to attest and the Mayor to execute the amendment.