Title
AUTHORIZATION FOR THE COMMUNITY REDEVELOPMENT AGENCY CHAIRPERSON TO EXECUTE THE PROPOSED LETTER OF INTENT WITH MASTRY'S BREWING CO., LLC FOR REDEVELOPMENT OF 5805 PARK BLVD
Body
NOTE: On October 25, 2019, the Community Redevelopment Agency (CRA) issued a Request for Letters of Interest (RLOI) for the redevelopment of 5805 Park Boulevard. On December 10, 2019, the CRA Board reviewed the proposals received and recommended Mastry’s Brewing Co., LLC for redevelopment of the site. On February 25, 2020, the CRA Board authorized the City Manager to negotiate competitively with Mastry’s Brewing Co., LLC for the redevelopment of 5805 Park Boulevard. The proposed Letter of Intent sets forth the basic business terms and their respective undertakings and commitments between the Agency and the Developer during the negotiation process.
Recommendation
ACTION: (Approve - Deny) Authorization for the Community Redevelopment Agency Chairperson to execute the proposed Letter of Intent.