There is a special meeting of the Fort Wayne Redevelopment Commission on Monday, September 22, 2008. Â The meeting is scheduled for 4 pm and will be in room 730. Â The agenda may be downloaded here. Â Of interest are two Harrison Square related items:
Resolution 2008-76 Approving a Letter of Intent with Parkview Health System, Inc.
Resolution 2008-77 Approving an Agreement with White Lodging relating to the sale of Real EstateÂ
The first relates to the naming rights deal with Parkview for Parkview Field, the ballpark in Harrison Square. Â The second, is a sign that White Lodging Services should be starting construction on the new Courtyard by Marriott shortly. Â
From the Hotel Definitive Agreement:
Section 1.4. Transfer of Hotel Site.
Upon acquisition of all Hotel Site parcels pursuant to Section 1.01, completion of Site Demolition pursuant to Section 1.02, and completion of the Remedial Measures pursuant to Section 1.03 (if any), the City agrees to transfer fee title to the Hotel Site to the Developer for a cash consideration of One Dollar ($1.00).Section 2.1. Hotel Construction.
After the transfer of the Hotel Site to Developer, and subject to the conditions set forth in Sections 1.06 and 1.07, Developer shall construct the Hotel as described in Section 2.02 upon the Hotel Site following the acquisition of all necessary permits and approvals. The Hotel shall contain at a minimum the elements set forth in Exhibit B and shall be constructed substantially in accordance with the project schedule set forth in Article III. The Hotel shall be constructed in a good and workmanlike manner. Upon delivery of the Hotel Site, Developer shall commence construction and proceed diligently without undue delay, and substantial completion of the Hotel shall occur as provided in the project schedule set forth in Section 3.2, subject to delays for reasons of Force Majeure as provided in section 7.05.
Section 3.2 of the Definitive Agreement features a chart of the project schedule.
In looking at the above chart, it would appear that the project is beginning a bit later than first thought. Â I will try to confirm this with Greg Leatherman, Executive Director of Redevelopment.
Related Images:
Is it possible that this agreement will be to let White Lodging off the hook realitive to the timing? The closing on this transfer was to have been April 1, 2008. Maybe White Lodging can’t get financing for an unneeded new downtown hotel? Attend and see on Monday – I’m sure if you can’t make it, that Stephen will be there and will report after. Thanks again, Stephen for the heads up!
Hi John,
The time line out of the Definitive Agreement appears to be behind reality. I will be asking Greg about this after the meeting Monday. Thank you for the comment!
Stephen
Stephen,
Could you grab a copy of the LOI with Parkview? I meant to get it this week but never got a chance.
Thanks
I will. I’d thought about it earlier in the week, however, I doubt it would have been released as the policy seems to be things have to be approved and signed off on before they’re released – at least with the Redevelopment Commission. I will be inquiring about it however. Also the agreement with White Lodgings. Look for an update Monday night.
Thanks, Jeff!