REPORT TO THE CITY COUNCIL
August 27, 2020
FROM: WILMA QUAN, City Manager
Office of Mayor and City Manager's Office
BY: ALDI DODDS, Deputy City Manager
Office of Mayor and City Manager's Office
SUBJECT
Title
Report to Council by Tutelian & Company, Inc. regarding First Amendment to the Exclusive Negotiation Agreement between the City of Fresno and Tutelian & Company, Inc.
Body
RECOMMENDATION
No action required. This is a status update for the North Fulton Mall Development Project that is the subject of the Exclusive Negotiation Agreement (ENA) between the City of Fresno (City) and Tutelian & Company, Inc. (Developer).
EXECUTIVE SUMMARY
On February 27, 2020, the City and Developer entered into a First Amendment to the ENA granting Developer exclusive rights to negotiate terms for a subsequent Disposition and Development Agreement (DDA) for the development of a proposed Project at the north end of Fulton Mall. The First Amendment required the Developer to present a report to City Council within six months of the approval of the First Amendment, and no later than September 5, 2020.
BACKGROUND
The First Amendment to the ENA requires that before September 5, 2020, the Developer prepare and deliver a report to the City Council demonstrating the Developer's status on completing their obligations as defined in the First Amendment. The following activities have been coordinated and completed since the First Amendment to the ENA was executed.
1. Completed Draft DDA: Developer has completed a draft of the DDA and submitted it to the City for review. The draft DDA includes the provisions required by Section 4 of the First Amendment to the ENA i.e. (1) addressing the historic artwork; (2) compliance with the intended Responsible Neighborhood Market Act; (3) and specified indemnifications and release of claims benefitting the City.
2. CVS Letter of Intent (LOI): Developer has exchanged two drafts of the proposed LOI with CVS and held severa...
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