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INH Properties Predevelopment Agreement Resolution 18-EDA-303 <br />January 8, 2018 <br />Page 2 of 2 <br /> <br />Discussion: <br />Staff has discussed the Council’s desire for any changes to the agreement with the City Attorney <br />who has updated the document to address the Council’s suggestions and to clarify the language so <br />the document is easier to read. The developers have accepted all of the City Attorneys suggested <br />changes. All parties are in agreement and believe that the changes have addressed the Council’s <br />concerns. Although, the agreement is non-binding for both parties, the purpose is to provide legal <br />access to the City owned site for the developers to conduct their due diligence for one year with the <br />intent to work towards a formal development agreement before the predevelopment agreement <br />expires. <br /> <br />Recommendation: <br />Based upon previous discussion, an update of all suggested changes by the City Council, and <br />satisfactory review of the documents by the City Attorney, Staff recommends approval of Resolution <br />17-EDA-303. <br /> <br />Respectfully submitted, <br /> ______________________________ <br />Brian Beeman <br />Business Development Coordinator <br /> <br />Attachments: <br /> Resolution 18-EDA-303 <br /> Preliminary Development Agreement