HomeMy WebLinkAboutDoc 127 - Amend Devel AgrmtDeschutes County Board of Commissioners
1300 NW Wall St., Suite 200, Bend, OR 97701-1960
(541) 388-6570 -Fax (541) 385-3202 -www.deschutes.org
AGENDA REQUEST & STAFF REPORT
For Board Business Meeting of 3/5/14
DATE: 2/27/14
FROM: Will Groves CDD 388-6518
TITLE OF AGENDA ITEM:
Consideration and Signature of Document No. 2014-127, Amending a Development Agreement By and
Among Deschutes County and Weston Investment CO., LLC.
PUBLIC HEARING ON THIS DATE? No
BACKGROUND AND POLICY IMPLICATIONS:
On July 23,2007, the Deschutes County Board of County Commissioners ("Board") approved an
Improvement Agreement (recorded at Vol. 200, Page 380) for the financial assurance of the required
150 units of Overnight Lodging for the Tetherow Destination Resort ("Resort") on Tract AB of the
Resort property. The County and Developer subsequently amended the Agreement six times.
Amendment Nos. 1 through 6 referenced above allowed flexibility regarding the surety, increased the
number of units of Overnight Lodging subject to the Agreement from 150 to 198 units, revised the site
plans, costs estimates and financial assurance amount, revised the type of financial assurance to
substitute an Irrevocable Letter of Credit (the "ILOC") for the original surety bond, changed the
location of the 198 units of Overnight Lodging, and extended the date(s) of expiration of the Agreement
several times.
The present amendment updates the agreement to change the site plan identified in the agreement from
SP-12-11 to SP-12-22, the current site plan.
FISCAL IMPLICATIONS:
None.
RECOMMENDATION & ACTION REQUESTED:
Approve on Consent Agenda signature of Document 2014-127.
ATTENDANCE: Will Groves
DISTRIBUTION OF DOCUMENTS:
Assessor, CDD Staff.