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<br />Consider Amendment to Development Agreement <br />and Bid Award for King Ave Parking Lot Improvement <br />May 16, 200S City Council Meeting <br />Page 2 of2 <br /> <br />City Attorney for the project, Mary Ippel of Briggs & Morgan has prepared the attached <br />memorandU!D. that describes MetroPlains' request. The city attorney and financial advisor <br />recommend an amendment to the Development Agreement. conditions, as described in the <br />attached memorandU!D.. The proposed conditions appear to provide the City adequate <br />security that a MetroPlains has significant risk if they fail to construct the Bluff Block project. <br /> <br />Recommendation <br />Staff recommends that the City Council consider a motion to approve an amendment to the <br />Development Agreement with MetroPlains Development, ILC as described in the attached <br />memorandU!D. from Ms. Ippel. <br /> <br />Following the Council's approval of the amendment, staff recommends that the Council pass <br />a motion to award Schedule 1.0 of the King Avenue Parking Lot/Miscellaneous Park Paving <br />Improvement Projects as described in the attached memorandU!D. from City Engineer Terry <br />Maurer. <br />