Agenda Item Title:
Title
Recess the City Council meeting and convene a meeting of the Sandy City Redevelopment Agency
Body
Presenter:
Kasey Dunlavy
Body
Description/Background:
Summit Project Update and Omnibus Agreement
This item provides a brief history of the Summit Project, an update on its current status, and a recommendation to advance the project through an updated Omnibus Agreement. The project, developed by Ron Raddon, is located at the south end of the promenade and includes the wetland parcel, the vacant parcel immediately west of the wetlands, and the vacant parcel west of Monroe Street behind REI.
Despite sustained efforts by the developer, progress has been significantly constrained by external factors beyond the developer’s control. These include challenging market conditions and, more critically, an existing easement on the wetlands held by SEG (formerly Pacific Retail), which restricts development on a key portion of the site. Together, these constraints have limited the feasibility of moving forward under the current framework.
The proposed Omnibus Agreement represents a practical and timely solution. It establishes a clear, achievable path to initiate development, addresses existing constraints, and positions the project to move forward in the most efficient timeframe possible.
See attached Agreement Summary.
Recommended Action and/or Suggested Motion:
Recommendation
Motion 1: Recess the City Council meeting and convene a meeting of the Sandy City Redevelopment Agency
Motion 2: Motion to adjourn the RDA meeting and reconvene City Council meeting (if needed).