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Item 4I AudioItem 4IItem 4I Approve Amendment to the Approve Amendment to the Bicentennial Retail Plaza Reciprocal Bicentennial Retail Plaza Reciprocal Parking AgreementParking Agreement Chris TribbleChris Tribble Existing Reciprocal Parking AgreementExisting Reciprocal Parking Agreement Existing agreement approved in Sept. 2006Existing agreement approved in Sept. 2006 •• Contains option, at Developer’s cost, to construct an Contains option, at Developer’s cost, to construct an •• additional row of parking to the north of the existing additional row of parking to the north of the existing parking spacesparking spaces City to own and have full use in conjunction with the City to own and have full use in conjunction with the •• tenants of Bicentennial Retail Plazatenants of Bicentennial Retail Plaza City and Developer to have full use of the parking City and Developer to have full use of the parking •• area during regular park hoursarea during regular park hours Proposed Amendment to AgreementProposed Amendment to Agreement Linked to City’s Strategy MapLinked to City’s Strategy Map •• -- Focus Areas: Infrastructure and PartnershipsFocus Areas: Infrastructure and Partnerships --Corporate Objective: Actively Promote PartnershipsCorporate Objective: Actively Promote Partnerships Cost is Developer’s responsibilityCost is Developer’s responsibility •• Existing agreement/Proposed amendment continue Existing agreement/Proposed amendment continue •• into perpetuity as a covenant running with the land into perpetuity as a covenant running with the land for as long as the original Site Plan approved for the for as long as the original Site Plan approved for the development remains in effectdevelopment remains in effect City Attorney approved existing agreement City Attorney approved existing agreement -- •• currently reviewing the proposed amendmentcurrently reviewing the proposed amendment Proposed Amendment to AgreementProposed Amendment to Agreement Developer indicates tenant on hold pending approvalDeveloper indicates tenant on hold pending approval •• Staff has consulted w/SRA and recommends Staff has consulted w/SRA and recommends •• approval of the proposed amendment approval of the proposed amendment Questions?Questions? Chris TribbleChris Tribble (817) 748(817) 748--80218021