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<br />ATTACHMENT B <br /> <br />Beam DRAFT Memorandum of Understanding <br /> <br />This Memorandum of Understanding, made and entered into this ___ day of ___, <br />2007, is by and between the Urban Renewal Agency of the City of Eugene (“URA”) and <br />Beam Development LLC (“Developer”). URA and Developer are sometimes herein <br />collectively referred to as the “Parties.” <br /> <br />RECITALS <br /> <br />A. URA owns or controls certain real property, consisting of approximately 3.9 <br />acres, located in downtown Eugene, Oregon generally along West Broadway, <br />between Willamette Street and Charnelton Street (“URA Property”). URA has <br />acquired the URA Property (primarily by entering into a number of option <br />agreements) and may assemble additional real property located near URA Property <br />for purposes of redeveloping the entire West Broadway area (“West Broadway” or <br />the “Redevelopment Area”). The boundaries of the Redevelopment Area are <br />depicted on Exhibit A. <br /> <br />B. In conjunction with its redevelopment goals, URA issued a Request for <br />Qualifications (“RFQ”), seeking responses from entities interested in acquiring the <br />URA Property and redeveloping West Broadway. On February 9, 2007, Developer <br />submitted a response to the RFQ. <br /> <br />C. After considering all of the RFQ responses it received, URA selected Developer <br />and KWG Development Partners, a joint venture between Foundation Real Estate <br />Development, Inc.; KemperCo LLC; FLAG, LLC; and Innovative Construction <br />Solutions, Inc. (“KWG”) to jointly redevelop West Broadway in a cooperative fashion. <br /> <br />D. URA and Developer wish to enter into this non-binding Memorandum of <br />Understanding (“Memorandum”) to provide time for the negotiation of a Purchase <br />and Sale Agreement (“Agreement”) between URA and Developer and to outline a <br />public involvement process that will provide input to Developer’s proposed <br />redevelopment project. Subsequent to a period of negotiation, the Agreement will <br />be presented to the URA Board for review and approval. <br /> <br />Memorandum of Understanding <br />-1- <br /> <br />