File #: 19-9249    Version: 1 Name: EpicCentral Hotel
Type: Agenda Item Status: Consent Agenda
File created: 8/12/2019 In control: City Attorney
On agenda: 8/20/2019 Final action: 8/20/2019
Title: Approve an Amended and Restated Development Agreement with Checo Purchase Company, LLC (or affiliated entity) for the development of the EpicCentral Hotel and Convention Center Project; Authorize City Manager to execute the accompanying Ancillary Agreements (as defined in the Development Agreement)

From

Megan Mahan

 

Title

Approve an Amended and Restated Development Agreement with Checo Purchase Company, LLC (or affiliated entity) for the development of the EpicCentral Hotel and Convention Center Project; Authorize City Manager to execute the accompanying Ancillary Agreements (as defined in the Development Agreement)

 

Presenter

Tom Hart, City Manager

 

Recommended Action

Approve

 

Analysis

Information was provided at the 8/6/2019 Finance and Government and Council meetings.

 

Financial Consideration

The agreement creates certain contracting and funding requirements upon execution of various other contracts, such as the CMAR contract for the convention center, for example. Funding will be available in The EPIC Central Capital Projects Fund (360093) WO #01909801-03 (EPIC Central Conference Center/Restaurants) at the time those secondary contracts will be executed.