Good Afternoon Dena,
After discussing with Bruce the City’s concerns with the repayment of the Deferred Developer’s Fee and keeping with the previous repayment terms of the agreement Bruce is asking that the City consider and grant his request for the the following cash payment (4th paragraph) be included in the agreement amendment so that he can afford the administrative costs for the significant amount of staffing time and resources invested to complete the total renovation and reclamation of the subject property and create new affordable housing units within the City.
He stated the current agreement defers his deferred cash payment for 55 years, while his request will allow for his deferred cash payment to be received as soon as there
After discussing with Bruce the City’s concerns with the repayment of the Deferred Developer’s Fee and keeping with the previous repayment terms of the agreement Bruce is asking that the City consider and grant his request for the the following cash payment (4th paragraph) be included in the agreement amendment so that he can afford the administrative costs for the significant amount of staffing time and resources invested to complete the total renovation and reclamation of the subject property and create new affordable housing units within the City.
He stated the current agreement defers his deferred cash payment for 55 years, while his request will allow for his deferred cash payment to be received as soon as there