AGENDA #1
MEMORANDUM
TO: Mayor and Town Council
FROM: W. Calvin Horton, Town Manager
SUBJECT: Design Work Session on Downtown Economic Development Initiative
DATE: June 20, 2005
The Council is holding this work session with Ram Development Company to give direction on key design issues important to the Town Council, prior to the initiation of negotiations with Ram Development Company for the development of Lot 5 and the Wallace Deck as Phase 1 of the Downtown Economic Development Initiative.
On June 2, 2005, the Council Committee on Lots 2 and 5 voted to pursue negotiations with Ram Development Company. At that time, the Council Committee decided that a Council work session on project design issues with the selected developer would be an important step to complete prior to the initiation of negotiations.
On June 15, the Town Council formally considered the selection of Ram Development Company and authorization to develop an Exclusive Right to Negotiate (ERN). On June 27, the Council will consider authorizing the execution of this Exclusive Right to Negotiate. If authorized, negotiations would then take place over the summer of 2005, with Council consideration of a proposed Development Agreement targeted for October 10, 2005.
If the Council authorizes a Development Agreement, we would expect that an application for a Special Use Permit would be filed shortly thereafter, for consideration using the Council’s normal process of development review over the succeeding eight month period.
Attachment 1 contains questions developed by Stainback Public/Private Real Estate and Town staff grouped by project design categories.
Attachment 2 is a comparison of Council’s Principles and Priorities for Use of Parking Lots 2 and 5 with the development proposals, prepared for the Council Committee meeting of June 2, 2005.
Attachment 3 provides sketches and drawings submitted by Ram Development Company with room for notes to assist the Council as it reviews the plans.
ATTACHMENTS