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<br />DISPOSITION AND DEVELOPMENT AGREEMENT--AX BILLY BUILDING <br />February 20, 1985 <br />Page 3 <br /> <br />e <br /> <br />Future Action <br /> <br />Two items related to the project will come to the council for action in the <br />future. One is a supplemental budget in March which will include the tax <br />allocation funding. The other is the Community Development Block Grant <br />Three-Year Plan which will include the use of CDBG funds for interim financing. <br />The former has been recommended by the Downtown Commission. The latter is <br />being reviewed and recommended by the Community Development Committee. <br /> <br />Major changes in the plans, as described above, will also be referred to the <br />agency. <br /> <br />The Downtown Commission will receive regular project progress reports. <br /> <br />Recommendation <br /> <br />The Downtown Commission recommends approval of the Agreement for Sale of Land <br />for Private Development and construction plans. As the option agreement with <br />the developer expires February 28, 1985, a brief extension may be necessary. ~ <br />The commission recommends the City Manager be authorized to extend the option . <br />agreement up to two weeks and to execute the sale agreement. <br /> <br />Action <br /> <br />City Council acting as Eugene Renewal Agency approves Agreement for Sale of <br />Land for Private Development and construction plans. Authorizes City Manager <br />to extend option and to execute Agreement for Sale. <br /> <br />JB:ky/Ta16 <br /> <br />e <br />