Laserfiche WebLink
REQUEST FOR COUNCIL CONSIDERATION <br />To:Saint Anthony Village Housing and Redevelopment Authority <br />From:Charlie Yunker, Executive Director <br />Date:December 10, 2024 Housing and Redevelopment Authority Meeting <br />Resolution:Approving Proposed Fourth Amendment to Contract for Redevelopment with Doran SLV, LLC <br />BACKGROUND <br />In front of you this evening is a resolution approving a Fourth 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 December of 2023, a Third Amendment was requested by Doran SLV, LLC and approved by the City to further <br />extend the commencement and completion dates due to economic conditions. <br />Due to those ongoing market challenges, Doran SLV, LLC is requesting an extension of timing requirements on <br />Phase 2. Doran SLV, LLC proposes Phase II Commencement deadline of January 1, 2026 and completion date of <br />January 1, 2028. <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. <br />5