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RiVe'r <br />To <br />and Cite Council <br />Request for Action <br />Item Number <br />4.4 <br />IAgenda Section I Meeting Date I Prepared by <br />Consent Mav 4.2020 Amanda Othoudt. ED Director <br />Item Description <br />Amendment to the Preliminary Development <br />Agreement with Modern Construction of <br />Minnesota, Inc. <br />Reviewed by <br />Cal Portner. Citv Administrator <br />Reviewed by <br />Action Requested <br />Approve, by motion, a second amendment to the Preliminary Development Agreement with Modern <br />Construction of Minnesota, Inc. <br />Background/Discussion <br />At their October 4, 2019, meeting, the HRA and the Council entered into a preliminary development <br />agreement with Modern Construction. The agreement allows the developer to explore the idea of a multi- <br />family, mixed -use development concept in downtown Elk River. <br />Jesse Hartung is requesting an extension of his agreement with the city to allow him time to further <br />develop his plans for downtown redevelopment. A joint meeting with the HRA and the Council will be <br />scheduled for September 8, 2020. <br />Financial Impact <br />N/A <br />Attachments <br />Executed Preliminary Development Agreement <br />Second Amendment to Preliminary Development Agreement <br />The Elk River Vision <br />A welcoming community nab nevolutiona y and spifrted i-esoui cefulness, exceptional [INATUREE] <br />0 x E 0 E I e <br />service, and community engagement that encourages and inspires pivspeizty <br />