Area 3. Area 3 consists of Lots 6 – 9 of the DMCBP Short Plat. The Port anticipates this area will be developed with business park uses, including light industrial, commercial office, or retail uses. If this area is developed for retail uses, the Port anticipates the property will be purchased by the City or its assignee pursuant to Section 10 of this Agreement. Otherwise, the Port expects to enter into a long-term lease agreement with a developer for this area.
Area 3. A Technical Information Report shall be prepared, for City Approval, to identify drainage facility requirements and demonstrate compliance with the KCSWDM or other approved standards as specified in Section 12.4 at the time the Design Review Application and/or Grading Permit is submitted for development of Area 3.
Area 3. The Parties acknowledge that Area 3 is not being rezoned at this time. GRP acknowledges that any future development of Area 3 is likely to be in conjunction with the future development of the portion of the Property as described in Exhibit A and as shown on Exhibit G. GRP acknowledges that future development will require the City’s approval of a development plan. GRP acknowledges that no such approval exist and is not requesting any approval to Area 3 as part of this development agreement.
