HomeMy WebLinkAboutURA RES 2025-03 Update to DDA, TS DevelopmentRESOLUTION NO.2025-03
A RESOLUTION OF THE CALDWELL URBAN RENEWAL AGENCY
AUTHORIZING THE EXECUTION OF THE AMENDED DEVELOPMENT &
DISPOSITION AGREEMENT WITH TS DEVELOPMENT, LLC FOR THE COMMONS
AT CREEK CROSSING PROJECT.
BE IT HEREBY RESOLVED by the Caldwell Urban Renewal Agency authorizes the execution of
the AMENDED Disposition and Development Agreement made part hereof and set forth in full.
PASSED BY THE CALDWELL URBAN RENEWAL AGENCY this 10"' day of March,
2025.
APPROVED BY THE CHAIRMAN OF THE URBAN RENEWAL AGENCY OF THE
CITY OF CALDWELL on this 10�' day of March, 2025.
ATTEST:
0- ` m.. _ ....�
i�
AMENDMENT TO
DISPOSITION AND DEVELOPMENT AGREEMENT
THIS AMENDMENT TO DISPOSITION AND DEVELOPMENT AGREEMENT
("Amendment") is made effective February 27, 2025, between the Urban Renewal Agency of the
City of Caldwell, Idaho, a public body, corporate and politic; organized pursuant to the Idaho
Urban Renewal Law, Title 50, Chapter 20, Idaho Code :as amended- ("Agency"), and TS
Development, LLC, an Idaho limited liability company ("TS"):
A. TS entered into that certain Disposition and Development Agreement dated
effective June 15, 2024 (the "DDA") for the purpose of memorializing the, disposition of Agency
owned property to TS to facilitate the Project as defined therein. The DDA referred a Schedule of
Performance attached thereto as Attachment 2.
B. Following the Schedule of Performance was- delayed due to causes beyond the
reasonable control of TS.
C. The purpose of this Amendment is to provide an updated Schedule of Performance
under the DDA.
AGREEMENT:
NOW, THEREFORE, in consideration of the foregoing Recitals, the agreements set forth
herein, and for other good and valuable consideration, the receipt and sufficiency of which are
.hereby acknowledged, Agency and TS hereby agree as follows:
1. Defined Terms. All capitalized terms not otherwise defined herein shall have the
meanings set forth in the Original-DDA.
2. Amended Schedule _ for Commercial Phase. The Schedule of Performance
deadlines set forth in the Original DDA are amended in accordance with attached Exhibit A; with
the most salient dates enumerated below: _
a. Agency approval of final design: March 3, 2025.
b. Submit drawings for Building Permit: April 23, 2025
c. Government approvals and permits for Commercial Phase. June 18, 2025.
AMENDMENT TO DDA -1
d. Start on-stie excavation - first scoop July 31, 2025.
e. Completion of Construction. Construction shall be diligently and
continuously pursued to completion subject to reasonable delays for events
beyond TS's control as provided in the DDA.
3. Counterparts. This Amendment may be executed in multiple counterparts, each
of which shall be deemed an original, but all of which, together, shall constitute one and the same
instrument.
4. Ratification. Except as amended by this Amendment, the DDA (as may have been
previously amended) is hereby ratified and confirmed and all other terms, provisions and
conditions of the DDA shall remain in full force and effect, unaltered, unwaived and unchanged
by this Amendment.
EXECUTED as of the date first above written.
AGENCY:
Urban Rene7adTgency of theCity of Caldwell, Idaho
M.
Porter
Chair
map -A io , 2025
TS:
TS Development,
Thomas M. Bev Jr.
Its: Member or Wanaj
February 28, 2025
AMENDMENT TO DDA - 2
Exhibit A
AMENDMENT TO DDA - 3
The Commons at Creek Crossing
Attachment 2 - Schedule of Performance
GRAND PEAK CONSTRUCTION
The Commons
Rev I 26-Feb-25
at Creek Crerr;.,g
Start
Finish
Original 25
-V Otr 2, 2025 L Qtr 3,�Ql, �4,2 =7,i, /Uzt
A*iky I D
ActWvty Name
Duration YjJun Jil AugSepOct I N Dec Jan IF jNbrjApr jMay Jun JLJ Aug
i Permitting - Shell Only
'28-Feb-25
A110110
j Building Design - Iselle, Agency Design Review Package
1 204�4 A
100
il.ili rait Design Review Drawngs to Agencies for Review
03-Wr-25
03-Mar-25
1---j.
...........
-
A1110
Agency Drawing Reviewand Comment
04-Mar-25
01-Apr-25
20
i171-20-'
Des0 Review Package Comment Incorporation I Finish Con'siniction Drawings
02-Apr-25
-Apr-25
15
j62-16--"
Submit Construction Drawings for Building Permit
23-Apr-25
23-Apr-25
A1240
Buildrig Permit Review
24-Apr-25
1"LxQ5
40
•A1270
I Btkft Permit Approved - Ready for Conalincilicin
A1025
flaue kW Package for key a - trade onewor.
1234W-25
125-Ap,-25
_]_.____2
— ------
Contractor bid period
25- Apr-25
16-May-25
I
AdiLdicate contractor bids and issue contradd III
164Aay25
06-jun,-25
A1037
Submit documents forun fding approval
09,1un-25
1 "J-25
I 30
--- ------ ---- 4 1 ------- — ------
A1300
Negotiate final funding terms
21 -Jul-25
01-Aug-25
10
A1310
Credit Line Approved Ready for draws
j 04AW25
04-Aug-25
A1320
Wdia CorftctB to annollruodon ocirtackim
11Aug Q5
mw
2ft.1.1 O"ft I StRwOl RWIdY PV of
.............. -------------
gp A1250
Complete shovel ready efforts on, site Section 6.1
14-Ang-25
10-Oct-25
41
U-j A1260
Complete off -sae / right of way improvements - Section 6.1
14 Aug 25
06-Feb-26
120
% 221C.42 On site Building (Shell & Core)
11-Aug-25
03-Sep,26
278
A1029
Mobilize to Job -site & Cali for I-Itil ty Locates
11-Aug-25
14-Aug-25
3
Al 030
Site Fencing I CAcaring I Conlrol point development I prelim sway14-Aug-25
21-Aug-25
5
ia Al D40
Site Excavation! Deep underground utility Installation
21 -Aug-25
19-Sep,25
20
- A1045
WWI
Site Deep Foundation System Installation — ------ --
29-Aug-25
11-Sep-25
10
ju-j A1050
Concrete Foundation Installation I Backfill / Slab on Grade
1 "ep-25
17-Oct-25
20
Gig A1070
Primary Steel Structure Erection
17-Oct-25
16-Dec-25
4 0
Al 075
CroU I ristalLation - Fie vator. Staircase, Restroorn core
17-Oct-25 16-Dec-25
40 ....
.... ------ ---- -- -------- --- - --- 4 ---- I----
A1080
Secondary Structure Framing I sheathing / MEP Rough4n
16-Dec-25
----!WJur-26
13-Feb-26
40
094
Exterior Siding I IVIEP Exterior
13-Feb-26
80
-Al
fillllf A1150
Exterior Finish likilld out / Purch list Temp CO
08-Jun-26
1 03-Sep-26
60
A1160
Building Shell Complete - Ready for Tenant Improvements
03,Sep-26
0
A . 1 230
Certificate of Completion from Agency after Temporary CO - Sectiong.1
03-Sep-26
0
Actual Work Critical Remaining Work
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