| | | | | | | | City of Marquette, MI
300 West Baraga Avenue
Marquette, MI 49855
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| | | | | | | | Agenda Date: 1/11/2021
Unfinished Business
Founders Landing Parcel 2A Development Agreement |
| | | | | | | | | BACKGROUND: | Home Renewal Systems Founders Landing, LLC (“HRS”) and the City of Marquette will be closing on the sale of Founders Landing Parcel 2A this week.
The last obligation for both parties in the Purchase Agreement was to come to terms on a Local Development Agreement that outlines responsibilities for each party with regards to the development of the property.
The attached Local Development Agreement has been reviewed by all legal teams and is considered mutually agreeable to all parties. |
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| | | | | | | | | FISCAL EFFECT: | | None by this action. |
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| | | | | | | | | RECOMMENDATION: | | Approve the Local Development Agreement with HRS Founders Landing, LLC as presented, and authorize the execution of the document. |
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| | | | | | | | | ALTERNATIVES: | | As determined by the Commission. |
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