Agmt22 Tri-Party Implementation 1548 Maple, LLC

Browse Search

ATTY/AGR/2022.014/TRI-PARTY AGREEMENT REV: 01-25-2022 VR 2 approximately 4.56-acre City-owned property (“City Property”). Following consummation of the exchange (“Exchange Closing”), City will retain ownership of the remaining approximately 2.04- acres of the City Property (“City Remainder”). The exact date of the Exchange Closing is unknown, but is expected to occur on or shortly following the Effective Date. E. County intends to develop on the City Parcel a shelter for persons experiencing homelessness and support facility (“Navigation Center”) to replace the homeless shelter on the County Property. As part of the Exchange Agreement, City and County agreed to enter into an agreement at the Exchange Closing (“Leaseback Agreement”), whereby City will lease back the existing shelter building together with parking and certain other portions of the County Property to County to continue operating the shelter until March 31, 2023 (“Leaseback Expiration Date”). F. An approximately 0.5-acre portion of the County Property is required for Developer to construct the Blomquist-County Segment of the Blomquist Extension (“Blomquist-County Right-of-Way”). The Exchange Agreement contemplates that City will grant County an option to ground lease the approximately 1.5-acre portion of the County Property not required for the Blomquist-County Right-of-Way (“Remainder Parcel”) for potential development of supportive or other affordable housing (“Affordable Housing Option”). G. Developer desires to (i) clarify the scope of Developer’s obligation to demolish at its expense existing buildings and improvements located within the Blomquist County Right-of- Way, and (ii) obtain permission from City and County to utilize portions of the County Property and City Property in connection with Developer’s development of the Project, including: (1) The right from the City (as owner of the County Property following the Exchange Closing) to use certain portions of the County Property that will not be included in the premises subject to the Leaseback Agreement, for temporary construction-related vehicle parking, laydown storage and staging during construction of the Blomquist-County Segment. (2) The right to use certain portions of the City Property, including both the City Parcel (to be conveyed by City to County at the Exchange Closing) and the City Remainder (to be retained by City after the Exchange Closing), for temporary construction- related vehicle parking, laydown storage and staging during construction of the Project. (3) The right to install and use a temporary access road (“Temporary Access Road”) across specified portions of the City Property, including both the City Parcel and the City Remainder. (Pursuant to separate agreements not generally a part of this Agreement, Developer previously agreed to provide to County excess clean fill from the Project Site, and County obtained the right to move the fill to the City Parcel (before the Exchange Closing resulted in transfer of that property to County) and grade and compact such fill to raise the elevation of the City Parcel in accordance with grading plans approved by City and County.)