RESOLUTION 15-05Assignment and Assumption of Development Agreement • January 16th, 2015
Contract Type FiledJanuary 16th, 2015WHEREAS, reference is made to that certain Development Agreement dated November 20, 2008 by and between Draper City (“City”), the Redevelopment Agency of Draper City (“RDA”), Utah Transit Authority (“UTA”) and Draper Holdings, LLC (as assignee of Whitewater VII Holdings, LLC) (“Master Developer”), as amended (the “Development Agreement”), that certain Master Reimbursement Agreement dated November 17, 2011 by and between City, RDA and Master Developer (the “Master Reimbursement Agreement”), and that certain Agreement for Development of Land by and between the RDA and Master Developer (the “ADL,” and together with the Development Agreement and the Master Reimbursement Agreement, the “Agreements”).