CC - Updated Application Information Development Agreement Modification v.5 (8-5-19)DEVELOPMENT AGREEMENT – 1
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Modification v.5 (8-5-19).docx
AMENDMENT TO DEVELOPMENT AGREEMENT
PARTIES: 1. City of Meridian
2. BVABC Eagle View, LLC, Owner
This AMENDMENT TO DEVELOPMENT AGREEMENT (“Amendment”) is made
and entered into this ___ day of ________________, 2019, by and between the City of Meridian, a
municipal corporation of the State of Idaho (“City”), BVABC Eagle View, LLC, (“Developer”).
1. RECITALS:
1.1. WHEREAS, Developer’s affiliate, BVA Development, LLC, and the prior owner
of the property identified herein, Idaho Central Credit Union, an Idaho charted
credit union, previously entered into the original Development Agreement
entered into on April 12, 2019, encumbering the “Property” described herein as
Exhibit “A”; and
1.2. WHEREAS, Developer has acquired the Property and is proceeding with
development of the Property consistent with the Development Agreement; and
1.3. WHEREAS, Developer has determined that development of the Property will
procced with Developer retaining title to the Property or entering into ground
leases for portions of the Property upon which it will develop certain commercial
improvements and in which it will retain fee title; and
1.4. WHEREAS, Developer has determined that financing of its improvements and
development of the Property will not require recording of a plat until some point
in the future as it will retain control over all of the Property; and
1.5. WHEREAS, in undertaking the initial infrastructure planning for the Property,
the Developer has determined that modification of the Phasing Plan will result in
additional operational and development efficiencies due to the need to extend
utilities throughout the Property and to construct required emergency access
points and to construct required buffer elements; and
1.6. WHEREAS, Developer desires to modify the Conceptual Development Plan and
Phasing Plan originally incorporated into the Development Agreement as Exhibit
C.
NOW, THEREFORE, in consideration of the covenants and conditions set forth herein,
the parties agree as follows:
2. INCORPORATION OF RECITALS: That the above recitals are contractual and
binding and are incorporated herein as if set forth in full.
DEVELOPMENT AGREEMENT – 2
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3. DEFINITIONS: For all purposes of this Modification the following words, terms, and
phrases contained in this section shall be defined and interpreted as herein provided for, unless the
clear context of the presentation of the same requires otherwise:
3.1 CITY: means and refers to the City of Meridian, a party to this Modification,
which is a municipal corporation and government subdivision of the State of
Idaho, organized and existing by virtue of law of the State of Idaho, whose
address is 33 East Broadway Avenue, Meridian, Idaho 83642.
3.2 DEVELOPER and OWNER: means and refers to BVABC Eagle View, LLC,
an Idaho limited liability company, whose address is 2775 West Navigator Drive,
Suite 220, Meridian, Idaho 83642, the owner of the Property who is developing
said Property and shall include any subsequent developers of the Property.
3.3 PROPERTY: means and refers to that certain Property located in the County of
Ada, City of Meridian, as described in Exhibit “A” and attached hereto and by
this reference incorporated herein as if set forth at length.
4. AMENDMENTS TO CONDITIONS COVERING DEVELOPMENT OF SUBJECT
PROPERTY: The following provisions of the Development Agreement are amended as
set forth below.
4.1. Section 5.1 of the Development Agreement is deleted in its entirety and is
amended and restated as set forth hereafter:
5.1 In recognition of the existing development rights associated
with the Property under the UDC, the Developer/Owner’s
intention to initially retain control of the Property by undertaking
development via ground leases or other financing arrangements
where the Developer/Owner retains ownership and control over
the Property fee, development efficiencies from phasing project
elements in a flexible manner, and the requirements associated
with extending required throughout the Property to serve all
project elements, the Developer/Owner, shall be permitted to
submit and to obtain design review approval, certificates of
zoning compliance, and building permits for any element of the
project whether for infrastructure or for any buildings or for any
other improvements that are contained within Phase 1 or Phase 2
(specifically any portion of Phase 2 designated as a subphase) as
depicted on the attached Amended Conceptual Development and
Phasing Plan for Rackham Subdivision/Eagle View Landing,
consistent with the Findings, attached as Exhibit “B” and the
Amended Conceptual Development and Phasing Plan for
Rackham Subdivision/Eagle View Landing as Exhibit “C”.
4.2. Section 5.2 of the Development Agreement is deleted in its entirety and is
amended and restated as set forth hereafter:
5.2 Developer/Owner shall diligently proceed with its
application for a preliminary plat for Rackham Subdivision.
Developer/Owner shall undertake extension of utilities and other
DEVELOPMENT AGREEMENT – 3
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Modification v.5 (8-5-19).docx
infrastructure as required under the UDC. Developer/Owner
shall not sell or convey any portion of the Property until the Plat
for Rackham Subdivision is recorded. Prior to the recording of
the Plat for Rackham Subdivision, however, Developer/Owner
may obtain building permits consistent with Section 5.1 above.
4.3. Sections 5.3 through 5.6 of the Development Agreement shall be retained as set
forth in the original recorded Development Agreement. Except as subject to the
modifications created herein.
4.4. The Owner/Developer shall develop the Property in accordance with the
conditions of approval contained in Findings attached as Exhibit “B”.
4.5. The site will be developed as depicted in the Amended Conceptual Development
and Phasing Plan for Rackham Subdivision/Eagle View Landing attached hereto
as Exhibit C.
5. CURRENT APPLICATIONS: The City has presently pending before it certain
applications for design review approval, certificates of zoning compliance, and building permits for
elements of Phase 1 and 2, which with the submission of the application for this amended Agreement
have been reviewed, approved, and issued. Future application for design approval, certificates of
zoning compliance, and building permist may occur at anytime after this Modification is approved
regardless of the recording of the final plat for the subdivision.
6. REQUIREMENT FOR RECORDATION: The City shall record this Modification,
including all of the Exhibits, and submit proof of such recording to the Owner and Developer.
7. BINDING UPON SUCCESSORS: This Modification shall be binding upon and inure
to the benefit of the parties’ respective heirs, successors, assigns, and personal representatives,
including the City’s corporate authorities and their successors in office. This Agreement shall be
binding on the Owner and Developer, each subsequent owner and any other person acquiring an
interest in the Property. Nothing herein shall in any way prevent sale or alienation of the
Property, or portions thereof, except that any sale or alienation shall be subject to the provisions
hereof and any successor owner or owners shall be both benefited and bound by the conditions
and restrictions herein expressed. The City agrees, upon written request of the Owner and
Developer, to execute appropriate and recordable evidence of termination of this Modification if
the City, in its sole and reasonable discretion, had determined that the Owner and Developer has
fully performed its obligations under this Modification.
8. INVALID PROVISION: If any provision of this Modification is held not valid by a
court of competent jurisdiction, such provision shall be deemed to be excised from this
Modification and the invalidity thereof shall not affect any of the other provisions contained
herein.
[end of text; signatures, acknowledgements, and exhibits to follow]
DEVELOPMENT AGREEMENT – 4
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Modification v.5 (8-5-19).docx
IN WITNESS WHEREOF, the parties have herein executed this Modification and made
it effective as of the date last executed below.
OWNER/DEVELOPER:
BVABC EAGLE VIEW, LLC, an Idaho limited
liability company, by its Executive Manager
BV Management Services, Inc., an Idaho
corporation
By: _______________________
Cortney Liddiard, President
Date: ______________________
STATE OF IDAHO )
) ss.
County of ________ )
On this ____ day of ____________, 2019, before me the undersigned a Notary Public in and for
said State, personally appeared Cortney Liddiard, known or identified to me to be the President of BV
Management Services, Inc., the corporation that is the Executive Manager of BVABC Eagle View, LLC,
the limited liability company that executed the within instrument or the person who executed the
instrument on behalf of said limited liability company, and acknowledged to me that such limited liability
company executed the same.
IN WITNESS WHEREOF, I have set my hand and affixed my official seal, the day and year in
this instrument first above written.
Notary Public
My commission expires:
CITY:
CITY OF MERIDIAN,
a municipal corporation
By: _____________________________
Tammy de Weerd, Mayor
Date: ____________________________
DEVELOPMENT AGREEMENT – 5
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Modification v.5 (8-5-19).docx
STATE OF IDAHO )
) ss.
County of Ada )
On this _____ day of _____________, 2019, before me, the undersigned, a Notary Public in and
for said State, personally appeared Tammy de Weerd, known or identified to me to be the Mayor of the
City of Meridian, who executed the instrument or the person that executed the instrument on behalf of
said City, and acknowledged to me that said City executed the same.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and
year in this certificate first above written.
Notary Public for Idaho
Residing at
My commission expires:
EXHIBIT A
C:\Users\cway\AppData\Local\Microsoft\Windows\Temporary Internet Files\Content.Outlook\97863NTO\Development Agreement
Modification v.5 (8-5-19).docx
EXHIBIT A
Legal Description of Property
EXHIBIT A
C:\Users\cway\AppData\Local\Microsoft\Windows\Temporary Internet Files\Content.Outlook\97863NTO\Development Agreement
Modification v.5 (8-5-19).docx
EXHIBIT B
C:\Users\cway\AppData\Local\Microsoft\Windows\Temporary Internet Files\Content.Outlook\97863NTO\Development Agreement
Modification v.5 (8-5-19).docx
EXHIBIT B
Findings
EXHIBIT C
C:\Users\cway\AppData\Local\Microsoft\Windows\Temporary Internet Files\Content.Outlook\97863NTO\Development Agreement
Modification v.5 (8-5-19).docx
EXHIBIT C
Amended Conceptual Development Phasing Plan
for Rackham Subdivision/Eagle View Landing and
Infrastructure Phasing Plan for Preliminary Plat
DEVELOPMENT AGREEMENT – 1
C:\Users\cway\AppData\Local\Microsoft\Windows\Temporary Internet Files\Content.Outlook\97863NTO\Redline of DA Amendment 8-5.docx
AMENDMENT TO DEVELOPMENT AGREEMENT
PARTIES: 1. City of Meridian
2. BVABC Eagle View, LLC, Owner
This AMENDMENT TO DEVELOPMENT AGREEMENT (“Amendment”) is made
and entered into this ___ day of ________________, 2019, by and between the City of Meridian, a
municipal corporation of the State of Idaho (“City”), BVABC Eagle View, LLC, (“Developer”).
1. RECITALS:
1.1. WHEREAS, Developer’s affiliate, BVA Development, LLC, and the prior owner
of the property identified herein, Idaho Central Credit Union, an Idaho charted
credit union, previously entered into the original Development Agreement
entered into on April 12, 2019, encumbering the “Property” described herein as
Exhibit “A”; and
1.2. WHEREAS, Developer has acquired the Property and is proceeding with
development of the Property consistent with the Development Agreement; and
1.3. WHEREAS, Developer has determined that development of the Property will
procced with Developer retaining title to the Property or entering into ground
leases for portions of the Property upon which it will develop certain commercial
improvements and in which it will retain fee title; and
1.4. WHEREAS, Developer has determined that financing of its improvements and
development of the Property will not require recording of a plat until some point
in the future as it will retain control over all of the Property; and
1.5. WHEREAS, in undertaking the initial infrastructure planning for the Property,
the Developer has determined that modification of the Phasing Plan will result in
additional operational and development efficiencies due to the need to extend
utilities throughout the Property and to construct required emergency access
points and to construct required buffer elements; and
1.6. WHEREAS, Developer desires to modify the Conceptual Development Plan and
Phasing Plan originally incorporated into the Development Agreement as Exhibit
C.
NOW, THEREFORE, in consideration of the covenants and conditions set forth herein,
the parties agree as follows:
2. INCORPORATION OF RECITALS: That the above recitals are contractual and
binding and are incorporated herein as if set forth in full.
DEVELOPMENT AGREEMENT – 2
C:\Users\cway\AppData\Local\Microsoft\Windows\Temporary Internet Files\Content.Outlook\97863NTO\Redline of DA Amendment 8-5.docx
3. DEFINITIONS: For all purposes of this Modification the following words, terms, and
phrases contained in this section shall be defined and interpreted as herein provided for, unless the
clear context of the presentation of the same requires otherwise:
3.1 CITY: means and refers to the City of Meridian, a party to this Modification,
which is a municipal corporation and government subdivision of the State of
Idaho, organized and existing by virtue of law of the State of Idaho, whose
address is 33 East Broadway Avenue, Meridian, Idaho 83642.
3.2 DEVELOPER and OWNER: means and refers to BVABC Eagle View, LLC,
an Idaho limited liability company, whose address is 2775 West Navigator Drive,
Suite 220, Meridian, Idaho 83642, the owner of the Property who is developing
said Property and shall include any subsequent developers of the Property.
3.3 PROPERTY: means and refers to that certain Property located in the County of
Ada, City of Meridian, as described in Exhibit “A” and attached hereto and by
this reference incorporated herein as if set forth at length.
4. AMENDMENTS TO CONDITIONS COVERING DEVELOPMENT OF SUBJECT
PROPERTY: The following provisions of the Development Agreement are amended as
set forth below.
4.1. Section 5.1 of the Development Agreement is deleted in its entirety and is
amended and restated as set forth hereafter:
5.1 In recognition of the existing development rights associated
with the Property under the UDC, the Developer/Owner’s
intention to initially retain control of the Property by undertaking
development via ground leases or other financing arrangements
where the Developer/Owner retains ownership and control over
the Property fee, development efficiencies from phasing project
elements in a flexible manner, and the requirements associated
with extending required throughout the Property to serve all
project elements, the Developer/Owner, shall be permitted to
submit and to obtain design review approval, certificates of
zoning compliance, and building permits for any element of the
project whether for infrastructure or for any buildings or for any
other improvements that are contained within Phase 1 or Phase 2
(specifically any portion of Phase 2 designated as a subphase) as
depicted on the attached Amended Conceptual Development and
Phasing Plan for Rackham Subdivision/Eagle View Landing,
consistent with the Findings, attached as Exhibit “B” and the
Amended Conceptual Development and Phasing Plan for
Rackham Subdivision/Eagle View Landing as Exhibit “C”.
4.2. Section 5.2 of the Development Agreement is deleted in its entirety and is
amended and restated as set forth hereafter:
5.2 Developer/Owner shall diligently proceed with its
application for a preliminary plat for Rackham Subdivision.
Developer/Owner shall undertake extension of utilities and other
DEVELOPMENT AGREEMENT – 3
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infrastructure as required under the UDC. Developer/Owner
shall not sell or convey any portion of the Property until the Plat
for Rackham Subdivision is recorded. Prior to the recording of
the Plat for Rackham Subdivision, however, Developer/Owner
may obtain building permits consistent with Section 5.1 above.
4.3. Sections 5.3 through 5.6 of the Development Agreement shall be retained as set
forth in the original recorded Development Agreement. Except as subject to the
modifications created herein.
4.3.4.4. The Owner/Developer shall develop the Property in accordance with the
conditions of approval contained in Findings attached as Exhibit “B”.
4.4.4.5. The site will be developed as depicted in the Amended Conceptual Development
and Phasing Plan for Rackham Subdivision/Eagle View Landing attached hereto
as Exhibit C.
5. CURRENT APPLICATIONS: The City has presently pending before it certain
applications for design review approval, certificates of zoning compliance, and building permits for
elements of Phase 1 and 2, which with the submission of the application for this amended Agreement
have been reviewed, approved, and issued. Future application for design approval, certificates of
zoning compliance, and building permist may occur at anytime after this Modification is approved
regardless of the recording of the final plat for the subdivision.
6. REQUIREMENT FOR RECORDATION: The City shall record this Modification,
including all of the Exhibits, and submit proof of such recording to the Owner and Developer.
7. BINDING UPON SUCCESSORS: This Modification shall be binding upon and inure
to the benefit of the parties’ respective heirs, successors, assigns, and personal representatives,
including the City’s corporate authorities and their successors in office. This Agreement shall be
binding on the Owner and Developer, each subsequent owner and any other person acquiring an
interest in the Property. Nothing herein shall in any way prevent sale or alienation of the
Property, or portions thereof, except that any sale or alienation shall be subject to the provisions
hereof and any successor owner or owners shall be both benefited and bound by the conditions
and restrictions herein expressed. The City agrees, upon written request of the Owner and
Developer, to execute appropriate and recordable evidence of termination of this Modification if
the City, in its sole and reasonable discretion, had determined that the Owner and Developer has
fully performed its obligations under this Modification.
8. INVALID PROVISION: If any provision of this Modification is held not valid by a
court of competent jurisdiction, such provision shall be deemed to be excised from this
Modification and the invalidity thereof shall not affect any of the other provisions contained
herein.
[end of text; signatures, acknowledgements, and exhibits to follow]
DEVELOPMENT AGREEMENT – 4
C:\Users\cway\AppData\Local\Microsoft\Windows\Temporary Internet Files\Content.Outlook\97863NTO\Redline of DA Amendment 8-5.docx
IN WITNESS WHEREOF, the parties have herein executed this Modification and made
it effective as of the date last executed below.
OWNER/DEVELOPER:
BVABC EAGLE VIEW, LLC, an Idaho limited
liability company, by its Executive Manager
BV Management Services, Inc., an Idaho
corporation
By: _______________________
Cortney Liddiard, President
Date: ______________________
STATE OF IDAHO )
) ss.
County of ________ )
On this ____ day of ____________, 2019, before me the undersigned a Notary Public in and for
said State, personally appeared Cortney Liddiard, known or identified to me to be the President of BV
Management Services, Inc., the corporation that is the Executive Manager of BVABC Eagle View, LLC,
the limited liability company that executed the within instrument or the person who executed the
instrument on behalf of said limited liability company, and acknowledged to me that such limited liability
company executed the same.
IN WITNESS WHEREOF, I have set my hand and affixed my official seal, the day and year in
this instrument first above written.
Notary Public
My commission expires:
CITY:
CITY OF MERIDIAN,
a municipal corporation
By: _____________________________
Tammy de Weerd, Mayor
Date: ____________________________
DEVELOPMENT AGREEMENT – 5
C:\Users\cway\AppData\Local\Microsoft\Windows\Temporary Internet Files\Content.Outlook\97863NTO\Redline of DA Amendment 8-5.docx
STATE OF IDAHO )
) ss.
County of Ada )
On this _____ day of _____________, 2019, before me, the undersigned, a Notary Public in and
for said State, personally appeared Tammy de Weerd, known or identified to me to be the Mayor of the
City of Meridian, who executed the instrument or the person that executed the instrument on behalf of
said City, and acknowledged to me that said City executed the same.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and
year in this certificate first above written.
Notary Public for Idaho
Residing at
My commission expires:
EXHIBIT A
C:\Users\cway\AppData\Local\Microsoft\Windows\Temporary Internet Files\Content.Outlook\97863NTO\Redline of DA Amendment 8-5.docx
EXHIBIT A
Legal Description of Property
EXHIBIT A
C:\Users\cway\AppData\Local\Microsoft\Windows\Temporary Internet Files\Content.Outlook\97863NTO\Redline of DA Amendment 8-5.docx
EXHIBIT B
C:\Users\cway\AppData\Local\Microsoft\Windows\Temporary Internet Files\Content.Outlook\97863NTO\Redline of DA Amendment 8-5.docx
EXHIBIT B
Findings
EXHIBIT C
C:\Users\cway\AppData\Local\Microsoft\Windows\Temporary Internet Files\Content.Outlook\97863NTO\Redline of DA Amendment 8-5.docx
EXHIBIT C
Amended Conceptual Development Phasing Plan
for Rackham Subdivision/Eagle View Landing and
Infrastructure Phasing Plan for Preliminary Plat