08/07/1985 Meeting - Laserfiche WebLink

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agency approve the Carley Capital Group and authorize the City Manager to e negotiate an Exclusive Negotiating Agreement with the developer and a Joint Venture Agreement with RRP for agency review and approval. In response to a question by Councilor Rutan, Ms. Stewart said there was lit- tle possibility of the Carley Capital Group not entering into an agreement with the agency or RRP. She said the agreement will identify the timelines and expectations of the three parties concerned. She said the master develo- per will perform preliminary marketing work and a master site plan. She added that a financial agreement will be developed during the next phase of the development project. She said the Carley Group will enter a financial agree- ment after it has performed a financial analysis, market feasibility, and a site plan approved by the agency and RRP. Mr. Gleason added that the group would also post a performance bond of $100,000 as part of the agreement. In response to a question by Councilor Hansen concerning the development expectations of the agreement, Ms. Stewart said a six-month time1ine would exist in which Carley Group would complete the work, with the possibility of the timeline being extended for another six months. She said the City will ask the developer to deposit additional funds for any time extension. Mr. Hansen asked if the agreement had any kick-out clause. Ms. Stewa rt sa i d the next agreement will include stipulations calling for a certain build-out ra te . The City Council will review the infrastructure improvements through the budget process. Councilor Wooten asked staff to develop a report on the number of projects e from which the Carley Group had withdrawn after the pre-development stage. She said the $100,000 deposit was not a strong commitment. Ms. Stewa rt sa i d staff will gather additional information. Ms. Wooten said her question did not affect her enthusiasm for the Carley Capital Group as the master developer. Res. No. 9l6--A resolution of the Eugene Renewal Agency to approve a master developer for the Riverfront Research Park and authorizing execution of doc- uments. Ms. Wooten moved, seconded by Mr. Hansen, to adopt the reso- lution. Councilor Ehrman stated that comments from the Town Hall meetings had stressed that the public wished some direct employment to result from the development. She said the City Council should stress to the Carley Group that local residents should be employed if possible. Counci lor Sa scom asked that staff provide her with the development timelines for use in the Town Hall meetings. Roll call vote; the motion carried unanimously, 7:0. Mayor Obie adjourned the meeting of the Eugene Urban Renewal Agency at 12:31 p.m. and reconvened the meeting of the Eugene City Council. e MINUTES--Eugene City Council August 7, 1985 Pa ge 5