Memorandum

City of Lawrence

City Manager’s Office

TO:	David L. Corliss, City Manager
FROM:	Diane Stoddard, Assistant City Manager
CC:	Cynthia Wagner, Assistant City Manager Britt Crum-Cano, Economic Development Coordinator Toni Wheeler, Director of the Legal Department Chuck Soules, Director of Public Works Scott McCullough, Director of Planning and Development Services
Date:	October 28, 2011
RE:	Revised Development Agreement for the Poehler Building Project

Please place this item on the consent agenda for the November 1, 2011 City Commission meeting:

Approve the revised development agreement with Ohio Mortgage Investors, LLC and Poehler Housing Partners, LP, for the Poehler Building project. 

Background:

At its meeting on October 11, 2011, the City Commission approved a development agreement with East Lawrence Historic Partners related to the redevelopment of the Poehler Building.  Subsequent to this authorization, the development team advised staff that certain changes needed to be made to the agreement, at the request of one of the investors. 

Summary of Revisions:

The agreement continues to set forth the various obligations of the development team and the City related to the redevelopment of the Poehler building site. 

The revised agreement provides the following major changes from the previous one:

• The development entity has changed from East Lawrence Historic Partners to Poehler Housing Partners and Ohio Mortgage Investors.  The Poehler Housing Partners are generally responsible for the Poehler project itself and Ohio Mortgage Investors will be responsible for the parking lot maintenance. 
• One of the developer’s obligations was removed concerning some improvements on 8^th Street.  The City had agreed to provide the angled parking on 8^th Street and the bulb-outs, lighting and sidewalks.  The same provision was inadvertently listed in the developer’s obligations too.  
• The City’s obligations are required to be completed by September 1, 2012.
• If the City hasn’t completed the public improvements, it will not delay the issuance of an occupancy permit for the project.
• Several minor language changes were made.

Requested Action

Staff recommends that the City Commission approve the revised development agreement for the Poehler Building project.