AMENDMENT

Neighborhoods, Community Services, Public Health and Safety Committee · 2026-08-17 · agenda_item

This item concerns proposed amendments to a Redevelopment Agreement (RDA) related to a hotel development. The amendments aim to clarify cost disbursement agreements between the City and the Developer, or an affiliate. Key changes include addressing substantial completion of hotel improvements if a lender forecloses, defining events of default under the RDA, and specifying that defaults in separate cost disbursement agreements for marina, bulkhead, pier, and riverwalk improvements will not trigger an event of default under the main RDA. This matter is currently pending review by the Neighborhoods, Community Services, Public Health and Safety Committee. The project would involve potential construction and renovation work related to the hotel, marina, bulkhead, pier, and riverwalk improvements. Contractors, suppliers, and service providers in construction, engineering, and related fields should monitor this item's progress. Early engagement before final plans and permits are issued could provide a competitive advantage.