HomeMy WebLinkAboutURA RES 2024-09RESOLUTION NO.2024-a
A RESOLUTION OF THE URBAN RENEWAL .AGENCY OF THE CITY OF
CALDWELL, IDAHO, ("AGENCY") APPROVING THE FINAL CONSTRUCTION
DOCUMENTS AND WAIVING CERTAIN CLOSING CONDITIONS FOR THE TS
DEVELOPMENT, L.L.C. ("TS DEVELOPMENT") PROJECT AT 510 ARTHUR
STREET.
WHEREAS, on November 14, 2023, Agency approved a Disposition and Development
Agreement with TS Development ("DDA") for redevelopment of the property commonly known
as 510 Arthur Street and a portion of the now -vacated adjacent Arthur Street right-of-way; and
WHEREAS, the DDA, at Section 7.5, provides that thirty (30) days prior to Closing, TS
Development shall submit to Agency "Final Construction Documents" including:
• square footage by type of uses
• perspective renderings
• floor plans
• site plan
elevations/sections listing exterior finishes, and;
WHEREAS, On May 8, 2024, TS Development submitted -to the Agency attorney
proposed Final Construction'Documents for the Project that are not materially different from the
original Design Development Plan, Attachment 3 to the DDA; and
WHEREAS, as an Agency Condition to Closing, the DDA, at Section 5.3.1a, provides, in
relevant part:
...building permits shall be ready to be issued upon payment of fees on or after
Closing. If available, Developer shall provide written confirmation from the City
that the permits and approvals are ready to be issued upon the payment of fees on
or after Closing[, and;]
WHEREAS, TS Development has started the building permit process and participated in
a "roundtable" discussion of the Project with various City of Caldwell departments, but building
permits are not ready for issuance; and
WHEREAS, TS Development has requested that Closing proceed without building
permits being ready for issuance so that it can complete final building design drawings necessary
for the permits in connection with Project financing which is available only after Closing, and;
WHEREAS, Section 5.5 of the DDA permits parties to waive; in writing any Closing
conditions.
RESOLUTION rV0. 2024- d 9 , Page 1
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS
OF THE URBAN RENEWAL AGENCY OF THE CITY OF CALDWELL, IDAHO:
Section 1: Agency, pursuant to Section 7.5 of the DDA, hereby approves and accepts
the Final Construction Documents attached as Exhibit A and incorporated by this reference.
Section 2: Agency, pursuant to Section 5.5 of the DDA, hereby waives Agency
Closing Condition 5.3.1a to the extent that it requires building permits be ready for issuance at
Closing.
Section 2: This Resolution shall be in full force and effect immediately upon its
adoption and approval.
u
ADOPTED AND APPROVED THIS 10
ATTEST:
SECRETARY
RESOLUTION NO.2024- 0 4, Page 2
t(j11 THE
7' SEAL
11/10/2022
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