TITLE
The Mayor and City Council shall discuss and take action to approve a six (6) month extension of the Subsequent Permit Deadline, Primary Tenant Opening Deadline and Subsequent Tenant Opening Deadline as set forth in the Development Incentive Agreement for Southbridge Marketplace between the City of Maricopa and TTRG AZ Maricopa Honeycutt 1, LLC, TTRG AZ Maricopa Honeycutt 2, LLC, TTRG AZ Maricopa Honeycutt 3, LLC, TTRG AZ Maricopa Honeycutt 4, LLC, TTRG AZ Maricopa Honeycutt 5, LLC, TTRG AZ Maricopa Honeycutt 6, LLC, TTRG AZ Maricopa Honeycutt 7, LLC and Thompson Thrift Development, Inc. Discussion and Action.
AGENDA ITEM DESCRIPTION
Pursuant to Section 2.2(b) of the Development Incentive Agreement, approved by RES 23-77 and amended by RES 24-20, the Developer may request a six (6) month extension for the Initial Permit Deadline, Subsequent Permit Deadline, Primary Tenant Opening Deadline and Subsequent Tenant Opening Deadline if they are diligently pursuing the development of the Project. The City's approval of such request shall not be unreasonably withheld.
The Developer has and is continuing to diligently pursue the development of the Project and is requesting six (6) month extension for the Subsequent Permit Deadline, Primary Tenant Opening Deadline, and Subsequent Tenant Opening Deadline pursuant to Section 2.2(b) of the Agreement.
PRESENTER
None
STAFF RECOMMENDATION
Staff recommends the approval of the six month extension of the Subsequent Permit Deadline, Primary Tenant Opening Deadline and Subsequent Tenant Opening Deadline as set forth in the Development Incentive Agreement for Southbridge Marketplace .