Title
RESOLUTION FOR THE AMENDED AND RESTATED PREDEVELOPMENT AGREEMENT WITH INLAND DEVELOPMENT PARTNERS, LLC FOR THE LOT D REDEVELOPMENT PROJECT
Body
CITY PROPOSAL:
RESOLVED, by the Duluth Economic Development Authority ("DEDA") that the proper DEDA officials are hereby authorized to enter into an Amended and Restated Pre-Development Agreement substantially in the form of that attached hereto, with Inland Development Partners, LLC for purposes of establishing a public-private partnership with the intent of redeveloping the property known as Lot D.
Statement of Purpose
STATEMENT OF PURPOSE: Inland Development Partners, LLC, (“Inland”) was the selected developer following an RFP process in early 2022. Since that time, Inland and staff have sought to establish the process for next steps for the development site. The proposed pre-development agreement between DEDA and Inland will provide for an exclusive period for the two parties to continue negotiation. Both DEDA and Inland will have specific work tasks during the period of dialogue, which extends through 2026.