Memorandum                    

City of Lawrence

City Manager’s Office

TO:	Thomas M. Markus, City Manager
FROM:	Diane Stoddard, Assistant City Manager
DATE:	July 26, 2017
CC:	Casey Toomay, Assistant City Manager Britt Crum-Cano Economic Development Coordinator
RE:	August 1 VanTrust Staff Update

The purpose of this memo is to provide an update regarding the VanTrust agenda item since the last meeting. 

Since the formal public hearing was held at the July 18, 2017 meeting, no additional public hearing is required. 

There were a few changes to the agreement made since the July 18, 2017 posting:

• Dates were updated to reflect August 1, 2017 consideration.

• The exhibit on the environmental access provisions were added. This was not available for the July 18 version.  This enables the City to access the property as may be necessary to carry out any of its applicable obligations under the Consent Order.

• Additional language was added in Section 2.04 Inspections that indicates that VanTrust would provide copies of a Phase 1 Environmental or any other testing reports done for the due diligence phase.  VanTrust has indicated that these reports will be completed to meet the All Appropriate Inquiry (AAI) standard.  This information should provide an updated baseline of environmental conditions on the lots, which was the subject of Commissioner Larsen’s questions at the July 18 meeting.   

The posted agreement for consideration is provided in a track changes version that tracks changes from the July 18 posting and also a clean version for recommended action.

The Industrial Revenue Bond Resolution No. 7210 and Resolution No. 7211 were also updated with a new date.