RDA Special Meeting

MINUTES OF RDA SPECIAL REGULAR MEETING – OCTOBER 9, 2018 -1- THE WEST VALLEY CITY REDEVELOPMENT AGENCY MET IN SPECIAL REGULAR SESSION ON TUESDAY, OCTOBER 9, 2018, AT 6:44 P.M. IN THE CITY COUNCIL CHAMBERS, WEST VALLEY CITY HALL, 3600 CONSTITUTION BOULEVARD, WEST VALLEY CITY, UTAH. THE MEETING WAS CALLED TO ORDER BY CHAIRMAN NORDFELT. THE FOLLOWING MEMBERS WERE PRESENT: Lars Nordfelt, Chair Jake Fitisemanu, Vice Chair Ron Bigelow Tom Huynh Steve Buhler Don Christensen ABSENT: Karen Lang STAFF PRESENT: Wayne Pyle, Chief Executive Officer Nichole Camac, Secretary Paul Isaac, Assistant City Manager/HR Director Nicole Cottle, Assistant City Manager/General Counsel/ CED Director Eric Bunderson, City Attorney Russ Willardson, Public Works Director Layne Morris, CPD Director Nancy Day, Parks and Recreation Director Shane Hamilton, Acting Police Chief John Evans, Fire Chief Jim Welch, Finance Director Jake Arslanian, Public Works Department RESOLUTION 18-08: APPROVE AMENDMENT NO. 2 TO THE AGREEMENT FOR THE DISPOSITION OF LAND FOR PRIVATE DEVELOPMENT BETWEEN THE REDEVELOPMENT AGENCY OF WEST VALLEY CITY AND FAIRBOURNE STATION REAL ESTATE INVESTORS, LLC Wayne Pyle, Chief Executive Officer, presented proposed Resolution 18-08 that approve amendment no. 2 to the Agreement for the Disposition of Land for private development between the Redevelopment Agency of West Valley City and Fairbourne Station Real Estate Investors, LLC. MINUTES OF RDA SPECIAL REGULAR MEETING – OCTOBER 9, 2018 -2- Written documentation previously provided to the City Council included information as follows: FREI is the entity formerly known as Granger Medical. FREI has had difficulty developing the Project in accordance with the ADL. Therefore, FREI and the RDA have negotiated an amendment to the original agreement based on the realities of the current situation. Granger Medical wants to locate in Fairbourne Station and entered into the A.D.L. with the Agency for the purchase of property at a discounted price in exchange for its commitment to build a Class A medical clinic. Granger Medical has had difficulties in getting the Project underway and intends to enter into a Joint Venture with Okland Capital, a reputable construction company, to build the Project. Because Granger Medical is late on its deadlines under the A.D.L., the A.D.L. must be amended. The attached Amendment includes the plans for the Class A medical clinic, commitments regarding timeframes for construction, and new financial penalties in the form of per day liquidated damages and payment of $1,000,000 from an escrow account for failure to complete the Project on time. Upon inquiry by Chairman Nordfelt there were no further questions from members of the Board, and he called for a motion. Mr. Christensen moved to approve Resolution No. 18-08. Mr. Bigelow seconded the motion. Mr. Bigelow stated that he is happy to have reached this agreement and is looking forward to continuing to have Granger Medical in the community. Mr. Huynh agreed and also thanked staff for their efforts. A roll call vote was taken: Mr. Bigelow Yes Mr. Buhler Yes Mr. Christensen Yes Mr. Fitisemanu Yes Mr. Huynh Yes Chairman Nordfelt Yes Unanimous. MINUTES OF RDA SPECIAL REGULAR MEETING – OCTOBER 9, 2018 -3- MOTION TO ADJOURN Upon motion by Mr. Fitisemanu all voted in favor to adjourn. THERE BEING NO FURTHER BUSINESS OF THE WEST VALLEY REDEVELOPMENT AGENCY THE SPECIAL REGULAR MEETING OF TUESDAY, OCTOBER 9, 2018, WAS ADJOURNED AT 6:48 P.M. BY CHAIRMAN NORDFELT. I hereby certify the foregoing to be a true, accurate and complete record of the proceedings of the Special Regular Meeting of the West Valley City Redevelopment Agency held Tuesday, October 9, 2018. ______________________________ Nichole Camac, CMC Secretary