Title
Amendment to the Commerce Project Development Agreement (B)
Explanation
On November 19, 2001 the CRA approved the Fourth Amendment to the Commerce Project Development Agreement and on December 17, 2001 the CRA approved the Fifth Amendment to the Commerce Project Development Agreement. On January 18, 2002 the Phase II property was sold to Gainesville Commerce Center Limited Partnership.
Staff has prepared a new Fourth Amendment that consolidates the content of the original Fourth and Fifth Amendments and makes them effective January 14, 2002, the date of the last Commission approval. Other than the effective date change and the consolidation into one amendment, the terms are identical to the previously approved amendments.
Fiscal Note
None
Recommendation
Executive Director to the CRA: 1) approve the new Fourth Amendment to the Commerce Project Development Agreement; and 2) recommend the City Commission approve the amendment.