Common Contracts
1 similar Redevelopment Agreement contracts
Economic Development DivisionRedevelopment Agreement • March 24th, 2005
The purpose of this memorandum is to seek approval for the Mayor to enter into a redevelopment agreement (the Agreement) with Five Points Northeast, LLC (the Developer) in consideration of its desire to allow the development of a Walgreen’s Drug Store and to construct a minimum of 30,000 square feet of new retail, service and office space (the Development), located on a 5-acre site (the Site), at the northeast corner of the “Five Points” intersection (see attached location exhibit). The developer envisions a drugstore, commercial/office strip center, and outlot retail development on the site, as generally portrayed in the attached conceptual site plan. The agreement would provide the developer with forgiveness of a previous City loan for clearance and remediation of the site as well as the sale, transfer, and conveyance of certain City-owned property within the development area. Under the terms of a previous redevelopment agreement dated September 1, 2003 and later superseded on April
