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REQUEST FOR COUNCIL CONSIDERATION <br />To:Saint Anthony Village Housing and Redevelopment Authority <br />From:Charlie Yunker, Executive Director <br />Date:December 12, 2023 Housing and Redevelopment Authority Meeting <br />Resolution:Approving Proposed Third Amendment to Contract for Redevelopment with Doran SLV, LLC <br />BACKGROUND <br />In front of you this evening is a resolution approving a Third Amendment to Contract for Redevelopment with <br />Doran SLV, LLC for the former Walmart site redevelopment, referred to as The Ruby. <br />The initial Contract for Private Redevelopment contemplated the construction of each phase of our Ruby project <br />to be done in two phases. A Second Amendment was requested and subsequently approved, which changed the <br />improvement construction commencement and completion dates given uncertainties with the recent pandemic. <br />In asking for a discussion and your consent to a Third Amendment, Doran SLV, LLC is looking to do two things: <br />1.Confirm the City agrees that Doran has met the terms of completion for the first Phase, per the <br />Completion of Phase I Minimum Improvements (see Part 1 in the attached) based on the issuance of a <br />Certificate of Occupancy in December 2022, and <br />2.Request an extension of timing requirements on Phase 2. In Section 2(a) of the attached, Doran SLV, LLC <br />proposes Phase II Commencement deadline of January 1, 2025 and completion date of January 1, 2027. <br />Doran SLV, LLC representative Evan Doran is on hand to discuss their challenges, offer further insight to the <br />request, and answer any questions the Council may have. <br />RECOMMENDATION <br />Staff recommends approval.