City Council Minutes 1994 04 19 - Laserfiche WebLink

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DISCUSSION/MOTION - COLONY SQUARE SUBDIVISION AGREEMENT Paul Wood, Planning Director, stated that staff has met with the City Attorneys and has incorporated what they feel is the intent of the Subdivision Agreement, as necessary to identify the obligation, and not necessarily how that would work out technically. Staff had added two conditions to Chapter 8 of the Agreement: 8.11, Dyer Road Right-of-Way, and 8.12, Parcel S-3. Richard Judd, Attorney for 1007 Corporation, had met with Don Shonkwiler, Homart Development, March 31 and he gave Judd forms of agreements that were generally acceptable and had been used by Homart Development Co., whose Properties of Delaware. He familiarity, he would continue Delaware as Homart Development. sent them to Shonkwiler April 8. of those documents: name has been changed to HD stated that for purposes of to refer to HD Properties of Judd revised those documents and Council was given copies of all 1.) A license agreement to permit 1007 Corporation to go on Homart's Parcel L to do the necessary surveying and engineering work to determine the exact legal description for the unconstrained alignment of Dyer Road. 2.) An acquisition agreement for the portion of Parcel L that sets forth the terms that were agreed on here. The blanks on the document were in case they wanted to modify up and down on what 1007 Corporation is paying Homart for Parcel S-3,-as opposed to what they're paying for an easement on Parcel L. They have generally agreed on those numbers, $10.00/s.f. on Parcel L and $10.00 s.f. for waiver of Homart's rights under Parcel S-3. 3.) A fourth amendment to the amended and restated Development Agreement between Homart and the City of Louisville. Judd received a copy of pages 12 - 14 dealing with Section 8 of the Agreement, Special Provisions, relating direCtly to the agreements that 1007 Corporation has. He explained that there are two obstacles: 1.) They feel cost recoveries on Dyer Road from developers, or entities other than Homart Development Corporation, for development of Parcel L should be included. For example, the Bellock parcel that is immediately west of the 1007 parcel may have some benefit from the construction of the unconstrained alignment of Dyer Road. He requested the City to include in the final draft of the Subdivision Agreement, the City's standard language on cost recoveries for other developers down the road other than Homart. Judd stated that Homart should be specifically excluded. 12