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��-I <br /> REPORT <br /> To the Redevelopment Agency <br /> April 24, 2000 <br /> Subject <br /> Amendment to Irvine Apartment Communities (IAC) Franklin Street Area Disposition and <br /> Development Agreement (DDA) Schedule of Performance Steps 11, 12, 13 and 16. <br /> Recommendation � <br /> That the Redevelopment Agency Board approves the Schedule of Performance <br /> amendment requests (Exhibit A). <br /> Background " <br /> IAC is requesting an amendment to the Schedule of Performance to allow an <br /> approximately 30-day extension to steps 11, 12, 13 and 16. This will provide the developer <br /> until June 1, 2000 to make their decision whether to proceed with the project. <br /> Alternative <br /> Take no action. In this case, the Schedule of Performance stays as originally approved <br /> and the DDA will terminate under its own terms at the end of April 2000. <br /> Fiscal Impact . <br /> No fiscal impact to this extension. <br /> ���____._ <br /> Mlichael Church J <br /> Executive Director V <br /> Attachment <br /> 1. Exhibit A— The original Schedule of Performance approved with the DDA, with the proposed changes <br /> highlighted. <br /> 2. Resolution with amended Schedule attached. <br /> , _ _ . __ _. _ .�. _ <br />