REVISED 2-09-07
WHEREAS, on December 6, 2004, the Council authorized initiation of a Request for Qualifications developer solicitation process; and
WHEREAS, on February 28, 2005, the Council authorized issuance of a Request for Proposals to five development teams which responded to the Request for Qualifications; and on March 7, 2005, authorized issuing a Request for Proposals to five selected developers; and
WHEREAS, on June 15, 2005, the Council reviewed an analysis of two development proposals received and authorized the Town Manager to proceed with negotiation of a Development Agreement with Ram Development Company; and
WHEREAS, on October 24, 2005, the Council authorized execution of a Memorandum of Understanding with Ram Development Company and authorized the negotiation of a Development Agreement by March 31, 2006; the Council extended the negotiation period on May 8, June 24 and most recently, on September 27, 2006, to December 5, 2006 to allow Ram Development Company to submit a revised proposal based on changing economic conditions and to continue negotiations; and
WHEREAS, on November 20, 2006, the Council held a public forum on the revised proposal to develop Lot 5; and
WHEREAS, on December 4, 2006, the Council authorized the Manager and Attorney, with the continuing participation of Council Members Strom, Greene, and Hill, to complete a proposed Development Agreement with Ram Development Company for Lot 5 based on revised plans as described in the Manager’s Memorandum to the Council of November 20, 2006 and based generally on the approved Memorandum of Understanding of October 24, 2005, except as modified by the revisions proposed, for Council consideration by its February 12, 2007 meeting;
NOW, THEREFORE, BE IT RESOLVED by the Council of the Town of Chapel Hill that the Council authorizes the Town Manager to execute the General Development Agreement with Ram Development Company in substantially the form bearing the designation “Public Distribution Draft - January 29, 2007” including all Exhibits as attached to this memorandum, in substantially the same form and content, and authorizes the Manager to act as Project Coordinator in accordance with the terms of the Agreement.
BE IT FURTHER RESOLVED that the Manager and Attorney are authorized to make non-substantive adjustments to the language of the Agreement or the Exhibits thereto if they determine any are needed prior to execution.
This the 12th day of February, 2007.