HomeMy WebLinkAboutURA RES 2026-001 7th & Main - DDA 5th Amendement.EXECUTED RESOLUTION NO. 2026-001
A RESOLUTION OF THE URBAN RENEWAL AGENCY OF THE CITY OF
CALDWELL, IDAHO APPROVING AND AUTHORIZING THE EXECUTION OF THE
FIFTH AMENDMENT TO DISPOSITION AND DEVELOPMENT AGREEMENT WITH
DPRE LLC.
BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE URBAN RENEWAL
AGENCY OF THE CITY OF CALDWELL, IDAHO ("Agency'):
Section I: Agency herby authorizes its Chairman to execute the Fifth Amendment to
Disposition and Development Agreement attached to this Resolution and incorporated here as if
set forth in full.
Section 2: That this Resolution shall be in full force and effect immediately upon its
adoption and approval.
ADOPTED AND APPROVED THIS 12'day of January, 2026.
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RESOLUTION NO. 2026-001 Page I
FIFTH AMENDMENT TO
DISPOSITION AND DEVELOPMENT AGREEMENT
THIS FIFTH AMENDMENT TO DISPOSITION AND DEVELOPMENT AGREEMENT (this "Fifth
Amendment") is made effective January 12, 2026 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 DPRE LLC,an Idaho limited liability company
("Developer"), as the successor in interest to 71h and Main Developer LLC, the original developer under
the Original DDA(as defined below):
A. 7th and Main Developer LLC (the "Original Developer") entered into that certain `
Disposition and Development Agreement dated effective April 27,2021(the"Original DDA"),as amended
by the First Amendment to Disposition and Development Agreement dated effective November 22,2021,
and as further amended by the Second Amendment to Disposition and Development Agreement, dated
effective March 28,2022, as further amended by the Third Amendment to Disposition and Development
Agreement, dated effective September 9, 2024, as further amended by the Fourth Amendment to
Disposition and Development Agreement, dated effective May 12, 2025 (collectively,the "Agreement"),
for the purpose of memorializing the disposition of Agency owned property to Developer to facilitate the
Project as defined in the Agreement.
B. The Third Amendment to Disposition and Development Agreement referred to above
("Third Amendment"), set forth a fencing requirement and a parking limitation on the currently
undeveloped portion of the property subject to the Agreement(the "Phase II Site").The purpose of this
Fifth Amendment is to permit temporary parking on the Phase II Site in a manner consistent with
applicable law.
C. Developer and Agency desire to amend the Agreement on the terms and conditions
contained herein.
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 Developer hereby agree as follows:
1. Defined Terms. . All capitalized terms not otherwise defined herein shall have the
meanings set forth in the Agreement.
2. Strike Third Amendment, Paragraph 7. Developer and Agency agree to strike the
following language, paragraph 7,of the Third Amendment that reads as follows:
Fencing of Phase II Project. Within fifteen (15) days after the Effective Date, Developer shall
enclose the Phase II Property and close the Phase II Property to public and private uses other than
Developer's right to develop the Phase II Project as contemplated.by the DDA or Developer's other
private uses(other than parking).
FIFTH AMENDMENT TO DISPOSITION AND DEVELOPMENT AGREEMENT-1
3 . Temporary Parking Permitted . Developer and Agency agree to permit the use of the
Phase II Site for temporary public parking from the effective date of this Fifth Amendment until December
1, 2026, Provided, however, such use shall in all respects comply with City of Caldwell, Idaho, rules,
regulations, codes and ordinances and be approved by all necessary City staff.
4. Counterparts. This Fifth 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.
S. Ratification . Except as amended by this Fifth Amendment, the Agreement (as previously
amended ) is hereby ratified and confirmed and all other terms, provisions and conditions of the
Agreement shall remain in full force and effect, unaltered, unwaived and unchanged by this Fifth
Amendment.
EXECUTED as of the date first above written.
AGENCY:
Urban Re w ncy of the City of Caldwell, Idaho
By:
Ji Porter
itle: Agenc irector
�br�tnW t2. 2026
DEVELOPER :
DPRE LLC,
an Idaho limited liability company
B
J . Dean Pape
Its: Manager
2026
FIFTH AMENDMENT TO DISPOSITION AND DEVELOPMENT AGREEMENT - 2