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File #: 23-0003    Version: 1 Name:
Type: RESOLUTION Status: Agenda Ready
File created: 12/15/2022 In control: Community Redevelopment Agency
On agenda: 1/10/2023 Final action: 1/10/2023
Title: Resolution Increasing Development Incentive Program (DIP) Funding in the Amount of $1,000,000 to Thrive Development Group, LLC, for the Thrive Progresso Project, Authorizing the Executive Director to Execute Any and All Related Instruments, and Delegating Authority to the Executive Director to Take Certain Actions - (Commission District 2)
Sponsors: COMMUNITY REDEVELOPMENT AGENCY BOARD
Attachments: 1. CRA Board Memo 23-0003, 2. Exhibit 1 - Letter from Thrive Development Group, LLC, 3. Exhibit 2 - Location Map, 4. Exhibit 3 - Recent Progress Photos of the Project, 5. Exhibit 4 - Breakdown of Increase Project Cost and Documentation, 6. Exhibit 5 - Economic Analysis, 7. Exhibit 6 - Draft Minutes of December 13, 2022 CRA Advisory Board Meeting, 8. Exhibit 7 - Amendment to the Development Incentive Program Agreement with Thrive, 9. Exhibit 8 - Resolution, 10. 23-01 (CRA), 11. CAM 23-0003 3rd amendment DIP agreement 2x, 2nd amendment to DIP agreement, Mortgage modification1x (Thrive Progesso)

Title

Resolution Increasing Development Incentive Program (DIP) Funding in the Amount of $1,000,000 to Thrive Development Group, LLC, for the Thrive Progresso Project, Authorizing the Executive Director to Execute Any and All Related Instruments, and Delegating Authority to the Executive Director to Take Certain Actions - (Commission District 2)