Title
Completion Date for The Standard (B)
Explanation
This item is provided to the Board as an informational item. At its March 2014 Board Meeting, the CRA approved up to $3.1 million in public infrastructure assistance for Landmark Properties’ project located at the NW corner of 13 Street and University Avenue. A development agreement was approved that outlines a list of up to 10 eligible on-site and off-site public infrastructure projects for which the Developer can seek reimbursement for improvements. All improvements are either on public land that serves the public or private land that can be utilized by the public.
The development agreement contains benchmarks, deadlines and reporting requirements that must be adhered to in order for Landmark to receive a reimbursement of eligible costs related to the list of approved projects. According to the development agreement, the developer must complete construction of the project no later than November 15, 2017, as evidenced by a Certificate of Occupancy issued for the Project. The Project includes the apartments, hotel, retail and parking garage. The developer must submit all required documentation to the CRA by December 15, 2017.
Recently, CRA staff was contacted by Andrew Young, Executive Vice President of Landmark Properties. According to Mr. Young, the City of Gainesville requested cease work in the student and hotel buildings for a period of 11 days to allow for student move-in/transition. The delay started on August 17, 2017 and work recommenced on August, 28, 2017. Hurricane Irma was scheduled to hit South Florida on or about September 9, 2017 and the majority of Landmark’s subcontractors and superintendents left one week prior to the hurricane making landfall to evacuate their families and/or secure their homes. The vast majority of Landmark’s subcontractors did not return for an additional two weeks after Irma hit Florida because they were dealing with repairing homes, insurance, etc. to rectify ...
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