HomeMy WebLinkAboutRDA BURNETT-EHLINE 06-03-85AGE DA
DATE: JUNE 3, 1985
REDEVELOPMENT AGENCY
TO:
FROM:
SUBJECT:
HONORABLE CHAIRNAN & NENBERS OF THE REDEVELOPNENT AGENCY
WILLIAH A. HUSTON, EXECUTIVE DIRECTOR
EXTENSION OF NEGOTIATION AGREENENT- BURNETT-EHLINE PROPERTIES
(NEWFORTH C~NTER)
RECOI~IENDAT~ON
That by Minute Order the Agency authorize a sixty-day extension of the
Negotiation Agreement between the Agency and Burnett-Ehline Properties.
BACKGROUND
The Agency granted Burnett-Ehline one-hundred-twenty days to negotiate a
Development Agreement for the redevelopment of the Newforth Center and Fricker
property. Agency staff and Burnett-Ehline have agreed upon the terms of a
Development Agreement scheduled for the Agency's review at its July 1, 1985
meeting. Since the Negotiation Agreement expires before the July 1, 1985
meeting, it would be appropriate to extend the agreement. A period of sixty
days is recommended in order to grant the Agency sufficient time to review and
act upon the Development Agreement.
Executive Director
WAH :ih
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