What is a developer's agreement and what are the terms?

The major purpose of the Downtown Partnership Agreement is to provide the financial framework by which the City’s and the developer’s public and private improvement obligations are established. The Agreement does not substitute for, or supersede any of the City’s development review and approval processes. With the project still in the planning stages, the City has not yet signed a Agreement with Testa Companies. We anticipate to have an agreement signed in the 1st quarter of 2018.

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1. What is the proposed timeline for the development project?
2. How will the Phase II development blend with First and Main and the surrounding neighborhoods?
3. Is the proposed development viable in today's market?
4. How will the proposed project traffic be addressed?
5. What is the City paying for? What is Testa Companies paying for?
6. Will the project include rental units and single-level housing units within multistory buildings?
7. What types of residential and office uses are being proposed?
8. How will storm water from the project be addressed?
9. What is a developer's agreement and what are the terms?
10. Will parking be included in the design?
11. Will the project incorporate environmental sustainability?
12. How tall will the building be?
13. Has the City considered putting a City Hall, Rec Center or park in the development?