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MEMO TO: Clerk -Administrator and City Council <br />FROM: Director of Publi c Works/Community Development 1,h r <br />DATE: April 10, 1986 <br />SUBJECT: CONSIDERATION OF DEVELOPMENT AGREEMENT FOR M.T.C. <br />PARK AND RIDE FACILITY <br />Attached please find the pertinent pages of the subject <br />development agreement. <br />Larry Schumi of the Metropolitan Transit Commission has requested <br />that the City waive the requirements for a security on the <br />subject development agreement because they are a governmental <br />agency. The M.T.C. will still sign the development agreement. <br />I have discussed this request with Attorney Meyers and we both <br />believe that this request can be honored provided that they sign <br />the development agreement. <br />' RECOMMENDATION: I recommend approving this resolution regarding <br />the development agreement for the M.T.C. park and ride facility. <br />SWT!bac <br />