SUBJECT:
Title
A Resolution of the Town Council of the Town of Erie Approving a Disposition and Development Agreement with Evergreen-County Line & Erie Parkway, L.L.C. for the Erie Town Center
Body
DEPARTMENT: Economic Development
Planning & Development
Parks & Recreation
Public Works
Department
PRESENTER(S): Julian Jacquin, Director of Economic Development & TOEURA
Sarah Nurmela, Director of Planning & Development
Luke Bolinger, Director of Parks & Recreation
David Pasic, Interim Director of Public Works
Malcolm Fleming, Town Manager
Melissa Wiley, Deputy Town Manager
Patrick Hammer, Deputy Town Manager
First Name Last Name, Title
FISCAL SUMMARY:
Staff have not determined the fiscal impact at this time, other than to conclude it will be positive for the Town, with revenue generated by selling the Town's property to the Developer and from the increase in economic activity resulting from developing the site as a retail/commercial center. The agreement provides for conveying the Town's property to the Developer in phases at a purchase price to be determine by the Parties through negotiation prior to the expiration of the Inspection Period. The negotiated price will be contingent on Council approval.
POLICY ISSUES:
Whether the Town Council supports contracting with Evergreen Devco to buy the Town-owned site with contingencies to develop a new anchor grocer, hotel, civic use, other retail and commercial uses (preferably local, regional, and small business owners), and affordable housing at this well-located site in Erie Town Center.
STAFF RECOMMENDATION:
Recommendation
Approve the Disposition and Development Agreement with Evergreen-County Line & Erie Parkway, L.L.C., for Erie Town Center.
End
SUMMARY AND BACKGROUND OF SUBJECT MATTER:
The Erie Town Center includes approximately 145 acres and five key sites generally located around the intersection of Erie Parkway and E. County Line Rd. The Town hired DPZ CoDesign i...
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