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CITY COUNCIL <br />WORK SESSION STAFF REPORT <br />ITEM NO. 6 <br />STAFF ORIGINATOR: Michael Grochala, Community Development Director <br />WORK SESSION DATE: September 3, 2024 <br />TOPIC: Amendment to Java Purchase Agreement <br />BACKGROUND <br />In September of 2023, the City entered into a purchase agreement with Java Companies for the <br />sale 2.24 acres located at the corner of Lake Drive and 77t" Street. Java Companies has been <br />actively working on both adjacent land acquisition and tenant contracts to develop the site. <br />Java is preparing to submit plans for rezoning, preliminary plat, conditional use and site and <br />building plan approval in September. The City review process will extend into November of <br />2024, past the extension dates provided for in the agreement. <br />Java is requesting an amendment to allow four additional 60-day extensions to the agreement. <br />Buyers is also requesting that the City construct the proposed road improvements within 10 <br />months of the closing. Staff is reviewing this clause with the City Engineer and City Attorney. <br />The existing agreement requires the City to advertise for bids within 30 days of closing. Barring <br />unforeseen circumstances construction of the road will be substantially complete in 2025. <br />Provided that land use requests are approved in November, a December closing would be <br />anticipated. Plans and specifications for the roadway improvement are complete. Upon <br />closing the City would advertise for bids and award a construction contract for the street and <br />utilities for construction in the spring. <br />REQUESTED COUNCIL DIRECTION <br />Staff is requesting City Council direction to place the proposed amendment to the Java <br />purchase agreement on the September 9, 2024, regular meeting for consideration. <br />ATTACHMENTS <br />1. Preliminary site plan <br />