CC - Old Town Lofts Condo Conversation and email
Charlene Way
From:Joseph Dodson
Sent:Friday, April 30, 2021 4:22 PM
To:City Clerk
Subject:FW: Old Town Lofts Condo Plat
Attachments:7a-First Amendment to Development Agreement 4.28.2021.pdf; 7b-Resolution
21-017 FIRST AMENDMENT DA Old City Hall Novembrewhisky PcificCO.pdf
Hello,
Please add the attachments and below email to the public record for both the Creamery South and Creamery North
Condominium applications (SHP-2021-0001 & 0002, respectively).
Thank you,
Joseph Dodson | Current Associate Planner
City of Meridian | Community Development
33 E. Broadway Ave., Meridian, Idaho 83642
Phone: 208.884.5533 |
Built for Business, Designed for Living
All e-mail messages sent to or received by City of Meridian e-mail accounts are subject to the Idaho law,
in regards to both release and retention, and may be released upon request, unless exempt from disclosure by law.
From: Ashley Ford-Squyres <meridiandevelopmentcorp@gmail.com>
Sent: Friday, April 30, 2021 3:11 PM
To: Joseph Dodson <jdodson@meridiancity.org>
Subject: Old Town Lofts Condo Plat
External Sender - Please use caution with links or attachments.
Hi Joseph:
I apologize for the delay in getting this email to you. I had hoped to provide you the signed Development Agreement
modification and resolution from our board meeting Wednesday evening. Unfortunately, our attorney’s office has been
closed and our board officers were not able to sign the documents prior to this communication. I am sending you the
clean versions of the documents that were approved by the board earlier this week and should be signed early next.
Meridian Development Corporation (MDC) understands that the owner of the Old Town Lofts project is proposing to
condo plat all of the retail/office and residential units. This has always been part of the discussion with the developer as
we understood that they may wish to sell the retail and the office spaces to others.
After multiple conversations with the developer, we understand it is not the intention of Pacific Companies to make any
programming changes related to the residential portion of the project by condo platting. The developer has committed
to standing by the proposal they made to both the MDC Board and the Meridian City Council as part of the original RFP
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process. It is understood that the residential units are for now, and for the foreseeable future, planned to be part of the
apartment rental portfolio of Pacific Companies. That said, we understand that due to utility metering decisions that
must be made during the construction phase that Pacific Companies feels it is necessary to condo plat these units now in
the event they should want to sell these individual units in the future. MDC understands and is supportive of this desire.
As we understand commitments were made during the RFP process, MDC has asked the developer to agree to a
Development Agreement modification relating only to the residential units that states:
"The Participants shall be allowed to develop and construct condominium units in the project. The Parties agree that any
condominium units will be retained by one or more of the Participants as owners and used as rental housing units for at
least a period of five years following completion of construction. After the expiration of said five year period the
Participant(s) may sell any condominium units to other entities or individuals for use as rental or owner occupied
housing."
MDC believes this 5-year commitment fulfills the developer’s obligations per the RFP response and we understand that
these will likely be rental units well beyond this timeframe. In addition, MDC does not have any concerns as to whether
or not the commercial or office spaces are sold now or in the future.
Thank you for the opportunity to comment on this application.
My Best,
Ashley
Ashley Squyres, Administrator
Meridian Development Corporation
Mailing Address Only:
104 E. Fairview Avenue #239
Meridian, ID 83642
Phone: 208-477-1632
Email:meridiandevelopmentcorp@gmail.com
Website: meridiandevelopmentcorp.com
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First Amendment to the Development Agreement (October 10, 2018)
between the
Meridian Development Corporation, Novembrewhisky Properties LLC, Pacific West Communities Inc.
and Pacific West Builders Inc.
Amendment dated April 28, 2021
COMES NOW the Meridian Development Corporation ("MDC") and the following as "Participants":
Novembrewhisky Properties LLC, Pacific West Communities Inc. and Pacific West Builders Inc. and agree
to this First Amendment to their Development Agreement dated October 10, 2021 and enter into this
First Amendment to their Development Agreement effective this 281h day of April 2021.
Whereas,the Participants under the Development Agreement between the Parties October 10, 2018
("DA") desire to be able to develop condominium units and the original DA did not provide for
condominium units to be developed;
Whereas,the Parties desire to amend the DA to allow Participants to build condominium units in the
project with the understanding that one or any combination of the Participants will own the
condominium units for a period of five years following completion and use them as rental units. Upon
completion of the five-year period the condominium units may be sold to other individuals or entities.
Now therefore, for good and valuable consideration the Parties to the DA agree to amend their DA as
follows:
1. The Participants shall be allowed to develop and construct condominium units in the project.
The Parties agree that any condominium units will be retained by one or more of the
Participants as owners and used as rental housing units for at least a period of five years
following completion of construction. After the expiration of said five year period the
Participant(s) may sell any condominium units to other entities or individuals for use as rental or
owner occupied housing.
Meridian Development Corporation Novembrewhisky Properties LLC
Chairman
Attest: Name/ITS:
Secretary
Pacific West Communities, Inc
Name/ITS:
Pacific West Builders, Inc
Name/ITS:
MERIDIAN DEVELOPMENT CORPORATION
THE URBAN RENEWAL AGENCY OF THE CITY OF MERIDIAN
RESOLUTION NO. 21-017
BY THE BOARD OF COMMISSIONERS OF THE URBAN RENEWAL AGENCY
OF MERIDIAN, IDAHO, A/K/A THE MERIDIAN DEVELOPMENT CORPORATION:
A RESOLUTION OF THE BOARD OF
COMMISSIONERS OF THE URBAN RENEWAL AGENCY
OF MERIDIAN, IDAHO, APPROVING THE FIRST
AMENDMENT TO THE DEVELOPMENT AGREEMENT
DATED OCTOBER 10, 2018 ATTACHED HERETO AS
"EXHIBIT A" BETWEEN THE MERIDIAN DEVELOPMENT
CORPORATION, NOVEMBREWHISKY PROPERTIES,
LLC, PACIFIC WEST COMMUNITIES INC AND PACIFIC
WEST BUILDERS, INC ("AMENDMENT'); AUTHORIZING
THE EXECUTION OF THE AMENDMENT BY THE
CHAIRMAN OR VICE-CHAIRMAN AND SECRETARY;
AUTHORIZING ANY TECHNICAL CHANGES TO THE
AMENDMENT; AUTHORIZING THE ADMINISTRATOR TO
TAKE ALL NECESSARY ACTION REQUIRED TO
IMPLEMENT THE AMENTMENT; AND PROVIDING AN
EFFECTIVE DATE.
THIS RESOLUTION, made on the date hereinafter set forth by the Urban
Renewal Agency of the City of Meridian, Idaho, an independent public body corporate
and politic, authorized under the authority of the Idaho Urban Renewal Law of 1965, as
amended, Chapter 20, Title 50, Idaho Code, a duly created and functioning urban
renewal agency of the City of Meridian, Idaho, hereinafter referred to as the "MDC."
WHEREAS, the MDC, an independent public body, corporate and politic, is an
urban renewal agency created by and existing under the authority of and pursuant to
the Idaho Urban Renewal Law of 1965, being Idaho Code title 50, chapter 20, as
amended and supplemented, and the Local Economic Development Act of 1988, being
Idaho Code, Title 50, Chapter 29; as amended and supplemented (collectively the
"Act");
WHEREAS, the MDC was established by Resolution No. 01-367 of the City
Council of the City of Meridian, Idaho (hereinafter the "City Council"), adopted July 24,
2001;
RESOLUTION NO. 21-017 First Amendment DA Old City Hall Project
WHEREAS, the City Council of the City of Meridian, Idaho (the "City"), on
October 8, 2002, after notice duly published, conducted a public hearing on the
Meridian Revitalization Plan (the "Revitalization Plan");
WHEREAS, following said public hearing the City adopted its Ordinance No. 02-
987 on December 3, 2002, approving the Revitalization Plan and making certain
findings;
WHEREAS, Participants in the original Development Agreement dated October
10, 2018 desire to construct condominium units in the project which is the subject of the
Development Agreement;
WHEREAS, MDC and Participants desire to amend their Development
Agreement to allow for condominium units to be developed by Participants with the
agreement that said units would be retained by one or more the Participants as rental
units for at least five years and thereafter said units may be sold for rental or owner
occupied housing units.
WHEREAS, the Board of Commissioners finds it is in the best interest of MDC
and the public to approve the AMENDMENT.
NOW, THEREFORE, BE IT RESOLVED BY THE MEMBERS OF THE BOARD
OF COMMISSIONERS OF THE URBAN RENEWAL AGENCY OF MERIDIAN, IDAHO,
A/K/A THE MERIDIAN DEVELOPMENT CORPORATION, AS FOLLOWS:
Section 1: That the above statements are true and correct
Section 2: That the Board confirms and approves the AMENDMENT between
the MDC and the Participants.
Section 3: That the Board executing the AMENDMENT with the Participants is
in the best interest of the public and MDC.
Section 4: That this AMENDMENT, a copy of which is attached hereto as
"Exhibit A" and incorporated herein by reference, be and the same
hereby is approved.
Section 5: That the Chairman, Vice-Chairman, and Secretary of MDC are
hereby authorized to sign the AMENDMENT and, further, are
hereby authorized to execute all necessary documents required to
implement the actions contemplated by the AMENDMENT subject
RESOLUTION NO. 21-017 First Amendment DA Old City Hall Project
to representations by MDC staff and legal counsel that all
conditions precedent to actions contemplated in the AMENDMENT,
and any necessary technical changes to said AMENDMENT, or
other documents, are acceptable upon advice from MDC's legal
counsel that said changes are consistent with the provisions of the
AMENDMENT and the comments and discussions received at the
April 28th 2021 board meeting and other various MDC Board
meetings where this matter was discussed.
Section 6: That this resolution shall be in full force and effect immediately
upon its adoption and approval.
PASSED AND ADOPTED by the Urban Renewal Agency of the City of Meridian,
Idaho, a/k/a the Meridian Development Corporation, on April 28th, 2021. Signed by the
Chairman of the Board of Commissioners and attested by the Secretary to the Board of
Commissioners, on this 28th day of April 2021.
APPROVED:
By
Chairman
ATTEST:
By
Secretary
RESOLUTION NO. 21-017 First Amendment DA Old City Hall Project
Exhibit A
RESOLUTION NO. 21-017 First Amendment DA Old City Hall Project