AGENDA CAPTION:
Title
Consider approval of Resolution 2019-185R, approving a Partial Assignment of a Development Agreement from Craddock Avenue Partners, L.L.C. to Carson Diversified Land, L.P. for an approximately 10 acre undeveloped portion of the Buie Tract located along Craddock Avenue at Bishop Street; modifying the Development Agreement by eliminating the requirements that all buildings be brought to the street edge of Craddock Avenue and contain ground floor retail or office space, and by eliminating the requirement that future assignments must be approved by the City; approving any other conditions to the assignment or modifications to the development agreement as may be imposed by the City Council; authorizing the City Manager to execute the partial assignment on behalf of the City; and declaring an effective date.
Body
Meeting date: September 30, 2019
Department: Planning and Development Services
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Background Information:
The applicant has made three requests in relation to the Buie Tract Development Agreement.
1) Assignment of the Agreement from Craddock Ave Partners, LLC to Carson Diversified Land, LP
2) Removal of the clause, “and contain ground floor retail or office” in relation to the referenced +/- 10 acre tract
3) Modification of the assignment language to remove the requirement that assignment be approved by the City Council so long as no modifications are being proposed and notice is provided to the City
Typically an amendment to the Development Agreement would require formal submission of an application and payment of the associated fee, in order for staff to review and present a recommendation to the City Council. The applicant has asked that this item be presented to the Council at the September 17th meeting in order to meet their contract timelines.
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