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AGENDA ITEM 6C <br />STAFF ORIGINATOR: Mary Alice Divine <br />DATE: 011/14/05 <br />TOPIC: Consideration of Resolution No. 05 -179 Approving <br />the Release of Obligations under the Contract for <br />Subdivision /Planned Unit Development with Hartford <br />Development, Inc. <br />Vote Required: Simple Majority <br />BACKGROUND: <br />The City Council entered into a Contract for Subdivision /Planned Unit <br />Development with the Hartford Group on December 21, 2004, setting forth the <br />terms and conditions of redevelopment for Legacy at Woods Edge. <br />Hartford Group plans to sell a portion of the development property to GCI <br />Builders, Inc., for the construction of a Country Inn & Suites and has asked to be <br />released from the terms and conditions of the contract as to the subject parcel. <br />The city has approved the Country Inn & Suites site plan, and as a condition of <br />approval before any construction begins, GCI Builders will be required to enter <br />into a development agreement with the city, containing the same terms and <br />conditions as the original Hartford Contract. <br />This action releases the Hartford Group from the conditions that will be assumed <br />by GCI Builders, Inc. This release will be delivered upon approval of the site <br />development agreement with the Country Inn & Suites developer. <br />OPTIONS: <br />1. Approve Resolution No. 05 -179 Approving the Release of Obligations for <br />Subdivision /PUD Contract with Hartford Group. <br />2. Do not approve Resolution No. 05 -179 <br />3. Return to staff for further consideration. <br />RECOMMENDATION: <br />Option 1 <br />• <br />