HomeMy WebLinkAboutItem #6 CDA AgreementSECOND ADDENDUM TO PROJECT DEVELOPMENT AGREEMENT
This Second Addendum to Project Development Agreement ("Second Addendum") is entered into
effective April , 2023 ("Effective Date"), to supplement the Project Development Agreement dated
May 19, 2021 ("Agreement"), as amended by the First Addendum to Project Development Agreement
dated January 18, 2023 ("First Addendum"), between the City of Chubbuck, an Idaho municipal
corporation ("City"), and the Chubbuck Development Authority ("CDA"), the urban renewal agency of
the City organized under the Idaho Urban Renewal Law of 1965, Chapter 20, Title 50, Idaho Code.
Recitals
A. The Chubbuck City Council, by Ordinance No. 385 dated October 27, 1992, approved the
Urban Renewal Plan Chubbuck Downtown Improvement Project ("1992 Plan") authorizing the CDA to
carry out projects to eliminate, remedy, or prevent deteriorated or deteriorating areas through redevelop-
ment, rehabilitation, conservation, or a combination thereof, in accordance with the 1992 Plan.
B. The City and the CDA entered into the Agreement for the purpose of identifying priority
public improvement projects to be completed under the 1992 Plan, and to identify additional projects that
may be completed should funding permit, and to define the rights and obligations of the CDA and the
City with regard to development of such projects.
C. After completing several projects and taking into account funds available for additional pro-
jects under the 1992 Plan, the City and the CDA executed the First Addendum to identify the remaining
projects to be developed under the 1992 Plan, one of which involves improvements to Hawthorne Road.
D. After initiating the Hawthorne Road project, the CDA was unable to locate a design engineer
that is capable of completing the project within the time constraints required under the 1992 Plan;
therefore, the City and the CDA desire to remove the Hawthorne Road project from the list of projects to
be completed under the 1992 Plan.
Agreement
Therefore, the parties agree as follows:
1. Hawthorne Road Project. The Hawthorne Road Improvements project set forth in section 1.2 of
the First Addendum is hereby vacated and shall not be constructed using revenue allocation funds
generated under the 1992 Plan.
2. Additional Projects. Except for the Hawthorne Road project, revenue allocation funds generated
under the 1992 Plan shall be used to develop the additional projects identified in the First Addendum, in
accordance with the terms and conditions of the Agreement.
3. Continuation of Agreement. Except as expressly modified herein, the Agreement and the First
Addendum shall remain in full force and effect.
4. Counterparts. This Second Addendum may be executed in counterparts which, when taken
together, shall constitute one and the same agreement.
5. Electronic Signatures. Signatures to this Second Addendum transmitted by facsimile or email shall
be valid and effective to bind the party so signing.
SECOND ADDENDUM TO PROJECT DEVELOPMENT AGREEMENT
SIGNED and DATED EFFECTIVE on the Effective Date set forth above.
Kevin England, Mayor
City of Chubbuck
Annette Baumeister, Chair
Chubbuck Development Authority
SECOND ADDENDUM TO PROJECT DEVELOPMENT AGREEMENT