HomeMy WebLinkAboutSummary FormAGENDA ITEM SUMMARYIFORM
FILE ID: O O IRO
O
Date: 9/18/2008
Commission Meeting Date: 10/16/2008
Type: ® Resolution
❑ Other
RE.1
Requesting Department: Office of City Manager.
District Impacted: 1
Ordinance ❑ Emergency Ordinance ❑ Discussion Item
Subject: Removal of Commission approval requirements for Wagner Square's First Amendment to
Declaration of Restrictive Covenants In Lieu of Unity of Title ("Covenant") and Easement and
Operating Agreement ("EOA").
Purpose of Item:
A resolution to authorize modification of Wagner Square's Covenant to remove the extra ordinary
requirement of Commission approval for updates to this Covenant or EOA, due to the approval of the
project's MUSP by Commision on (2/28/08). Commision approval is not customary for the
amendment of these documents, as they are normally handled on an administrative basis, however this
!requirement was added as an extra precaution on behalf of the City until the MUSP was.approved for
the project.
Background Information:
Please see attached Background Information:
Budget Impact Analysis
NO Is this item related to revenue?
NO Is this item an expenditure? If so, please identify funding source below.
General Account No:
Special Revenue Account No:
CIP Project No:
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
CIP
�fp
If using or receiving, capital funds I
N A_
Grants
Purchasing
Chief
Final Approvals (SIGN AND DATE)
Budget
Risk Managemen
Dept. Director
City Manager
Ivl
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Background Information:
In order to meet the subdivision of land regulations and have Phase I (1st residential
tower) of the Wagner Square project meet the time lines of certain HUD loans and the
BEDI remediation grant, the First Amendment to Declaration of Restrictive Covenants In
Lieu of Unity of Title ("Covenant") was executed and recorded prior to the MUSP (for
Phase II - Commercial & Phase III - 2" `� Residential Tower) being submitted to the City
for review and approval. The Covenant required an Easement and Operating Agreement
("EOA") to ensure the ability of the owners of the different phases to be able to utilize
and operate the project. At the time that the Covenant was drafted there were only
preliminary plans for the site. For this reason the City requested that any changes to the
Covenant and EOA have as a requisite the approval of the City Commission, until such
time as the MUSP was approved. The Covenant now needs to be amended as 1) the
approval of the MUSP allows for the Covenant and EOA to be amended with more
specific detail and with due consideration to the buildings, parking, utilities, etc., and 2)
to remove the extra ordinary requirement of City Commission approval for amendments
to the Covenant and EOA since the MUSP has been approved. The requirement of City
Commission approval is not customary for the amendment of Declarations of Restrictive
Covenants which are normally handled on an administrative basis, however this
requirement was added as an extra precaution on behalf of the City until the MUSP was
approved and the Developer has requested the removal of this particular requirement.
This amendment does not concern itself with the particulars of this Major Use Special
Permit (MUSP) or other land development permit requirements applicable to this project.