File #: 25-0887    Version: 1 Name:
Type: Motion Status: Future Agenda
File created: 6/5/2025 In control: Reinvestment Zone No. 3 - Downtown
On agenda: 6/17/2025 Final action:
Title: Motion to approve a 1st amendment to the TIRZ #3 Downtown Development Reimbursement Agreement with Elevate QOF, LLC for the property located at 402 Lomax Street, to provide a year project extension from June 30, 2025 to June 30, 2026, effective upon signature by the City Manager or designee from the TIRZ #3 Project Specific Development Program to begin pay out in FY2027.
Sponsors: Downtown Management District
Attachments: 1. TIRZ #3 Agenda Memo - 1st Amendment to Homewood Suites, 2. TIRZ #3 Presentation - 1st Amendment to Homewood Suites, 3. TIRZ #3 Original Contract - Elevate QOF LLC/Homewood Suites, 4. TIRZ #3 Amendment No 1 - Elevate QOF, LLC/Homewood Suites, 5. Letter requesting 1st Extension - Homewood Suites
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Motion to approve a 1st amendment to the TIRZ #3 Downtown Development Reimbursement Agreement with Elevate QOF, LLC for the property located at 402 Lomax Street, to provide a year project extension from June 30, 2025 to June 30, 2026, effective upon signature by the City Manager or designee from the TIRZ #3 Project Specific Development Program to begin pay out in FY2027.