2013 001 Ordinance - Laserfiche WebLink

Home Browse Search

ORDINANCE N0.2013-01 INTRODUCED BY: Mayor Rinker and Council as a Whole AN EMERGENCY ORDINANCE AUTHORIZING AND DIRECTING THE MAYOR TO ENTER INTO A DEVELOPMENT AGREEMENT WITH EAST COMMONS LTD. WHEREAS, the Village and East Commons Ltd:, ("East Commons"), desire to enter into an agreement involving the improvements to certain vacant property; and WHEREAS, East Commons proposes an office, laboratory, medical condominium development on the East Commons Property hereinafter referred to as (the "Improvement"); WHEREAS, the East Commons Property is zoned partly Office-Laboratory and partly Single Family Residential; WHEREAS, the East Commons Property is also subject to a certain Court Ordered Settlement Agreement in Case No. 2005 ADV 0102032 consolidated with Case No. CV OS-566681 which will hereinafter be referred to as (the "Settlement"); WHEREAS, pursuant to "the Settlement, any development of the East Commons Property, among other items must comply with the`following provisions: a. PPN 831-OS-015 and 831-OS-007 shall comply with the then current zoning; b. Any structure(s) built on the East Commons Property must have compatible architecture with the Governors Village Development; c. There shall be no access to SOM Center Rd. through or over PPN 831-OS-007; and d. PPN 831-OS-007 shall remain "green" undeveloped land. WHEREAS, as a result of the Improvement annual income and real estate tax revenue to the Village will increase by approximately Five Hundred Thousand Dollars ($500,000.00) over current tax revenues being generated; and WHEREAS, this Development Agreement is entered into by the parties to recognize and ensure full compliance with the East Commons Property zoning, the parameters and provisions of the Settlement and to fully memorialize the parties' respective rights, agreements and obligations relating to the Improvement.