DISCUSSION ITEM
FROM: Jared Moore, Chairperson
SUBJECT:
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UPDATE ON HAWKSHAW REDEVELOPMENT AT 9TH AVENUE AND ROMANA STREET MILESTONES
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SUMMARY:
At its December 2019 meeting, the CRA deemed it appropriate to request that Hawkshaw Development Group, LLC provide certain information pursuant to its agreement for development of the site at 9th Avenue and Romana Street to document that the project’s development milestones have been met. Staff was directed to forward a letter to Mr. Robert Montgomery requesting this documentation. A letter was forwarded to Mr. Robert Montgomery on December 17, 2019. A response was requested by February 10, 2020.
The information requested includes:
1. A binding commitment for construction financing for the project, issued and executed by a reliable and reputable institutional lender and accepted and executed by the developer and all guarantors named in such commitment, subject only to usual and customary conditions that are not inconsistent with the terms of the Agreement
2. Evidence of the developer’s ability to pay the cost of construction of the project in excess of funding to be provided pursuant to the loan commitment referenced above
3. Evidence of the close of construction financing on the project
4. A copy of the final critical path schedule for construction of the project
5. Copies of the design documents for the project
6. Written notice of any proposed change in the management or voting control of the development entity (LLC) and/or team
PRIOR ACTION:
November 6, 2017 - CRA approved the development agreement/contract for sale of the Hawkshaw property to Robert Montgomery, LLC.
February 26, 2018 - The deed for sale of Hawkshaw property to Hawkshaw Developers, LLC was filed in Escambia County Official Records.
June 10, 2019 - The CRA approved extension of the commencement deadline for the Hawkshaw redevelopment project at 9th Avenue and Romana Street to September 30, 2019 and granted extension of the construction commencement deadline.
August 5, 2019 - The CRA approved the revised design plans, revised construction timeline and changes to the Hawkshaw Redevelopment, LLC. Development Team.
STAFF CONTACT:
M. Helen Gibson, AICP, CRA Administrator
Victoria D’Angelo, Assistant CRA Administrator
ATTACHMENTS:
None
PRESENTATION: No