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this development has one access. He did not understand how this <br />could have been approved without having secondary access at the <br />lengths that this is from McCaslin Boulevard and the intensive use <br />being proposed in Colony Square. He stated that the reason for <br />asking for access to Dyer Road to Parcel L is to provide secondary <br />relief access to Colony Square. The benefit is far more beneficial <br />to Colony Square than there is for Parcel L and that is why Homart <br />refuses to recover to the developer of Colony Square for the <br />improvements to Dyer Road. <br /> <br />Howard asked Shonkwiler if they would be willing to sell the <br />property needed at fair market value. <br /> <br />Shonkwiler: <br /> <br />We've always agreed that we would be <br />willing to sell the property at fair <br />market value simply because, if we <br />don't, the City has open <br />condemnation powers to provide for <br />that event. <br /> <br />Shonkwiler wanted the City and Homart to create a punch list and a <br />time frame to accomplish those items and then S-3 will be freed up. <br /> <br />Sisk asked if the agreement was to improve Dyer Road using the <br />unconstrained option and there was no discussion about recovery, <br />would Brisnehan agree to do that? He reiterated that they have <br />price done, S-3, and Tract L. He asked Shonkwiler when he would be <br />willing to sell to the 1007 Corporation or successors? <br /> <br />Shonkwiler stated that he will have to go to Chicago to talk with <br />Corporate headquarters, present a deal sheet, and get the deal <br />approved. The deal sheet results in a contract to purchase, which <br />will go to the purchasers, which will all take 30 - 45 days with <br />closing whenever. He explained that it is not legal to transfer <br />title to property without having it platted. Parcel L is an <br />unplatted tract of land. He wanted it on the record that at some <br />later date and time Council will not come to Homart when they plat <br />Parcel L and bring up that part of the Subdivision Agreement that <br />Homart will have to recover "X" number of dollars for access onto <br />Dyer Road. <br /> <br />Sisk asked Keith Hanson, Hast Development, if the successor company <br />will agree to build Dyer Road without cost recovery as part of the <br />condition? <br /> <br />Keith Hanson, Hast Development, stated that he couldn't answer <br />that. <br /> <br />Brisnehan: <br /> <br />If Mr. Shonkwiler will agree that <br />he'll convey S-3, the portion <br />needed, and L for the amounts we're <br />speaking of ($10.00 s.f.), then <br /> <br />9 <br /> <br /> <br />