HomeMy WebLinkAbout053-02RESOLUTION NO. 53-2002
APPROVING EXECUTION OF THE SECOND AMENDMENT TO THE OWNER
PARTICIPATION/DISPOSITION AND DEVELOPMENT AGREEMENT
BETWEEN THE COMMUNITY DEVELOPMENT AGENCY OF THE TOWN OF
DANVILLE, THE TOWN OF DANVILLE AND THE EDWARD S. AGENO 1992
TRUST
WHEREAS, the Community Development Agency of the Town of Danville (the "Agency") and
the Town of Danville (the "Town") have previously entered into an Owner
Participation/Disposition and Development Agreement (the "Agreement") with the Edward S.
Ageno 1992 Trust (the "Trust") related to the redevelopment of the Danville Square shopping
center; and
WHEREAS, under the Agreement and the First Amendment thereto, the Trust is required to
complete construction of Phase 1 of the redevelopment project by June 15, 2002; and
WHEREAS, the Trust has requested an extension of this time line for a period of three-and-one-
half years to complete Phase 1 of the Project; now, therefore, be it
RESOLVED, that the Town of Danville hereby approves execution by the Town Manager of
the Second Amendment to the Owner Participation/Disposition and Development Agreement
between the Community Development Agency of the Town of Danville, the Town of Danville
and the Edward S. Ageno 1992 Trust to extend the completion date for Phase 1 of the project to
December 31, 2005.
APPROVED by the Danville Town Council at a regular meeting on May 21, 2002 by the
following vote:
AYES:
NOES: None
ABSTAINED: None
ABSENT: None
Waldo, Arnerich, Doyle, Greenberg, Shimansky
MAYOR
/f-'~.~.~PP~OVED AS TO FORM:
CITY ATTORNEY
CITY CLERK