Title:
Development Agreement - Discovery Place, Inc.
Summary
ACTION:
Authorize the County Manager to negotiate and execute a Project Development Agreement between the County and Discovery Place, Inc. for the design and construction of a replacement building for the nature museum located on a portion of Tax Parcel 151-041-01 located at Freedom Park
Staff Contact: Mark Hahn, Asset and Facility Management
Jacqueline McNeil, Asset and Facility Management
Presentation: No
BACKGROUND/JUSTIFICATION:
As part of the FY 2019 - 2023 Capital Improvement Plan the Board approved allocating $16,000,000 for a joint development project with Discovery Place, Inc. ("DPI") for replacement of the current nature museum. The nature museum is located at 1658 Sterling Road on the Freedom Park site, and the new building will be at this same location. The current building has outlived its useful life and needs replacing to modernize the facility. The total project cost is estimated at $32,000,000 with the County contributing $16,000,000 and DPI responsible for providing the balance of the funds. Asset and Facility Management's Design and Construction Division will manage the project for the new building and site with active participation in the process from DPI. Once the new building is constructed, DPI will lease it from the County. Execution of the Project Development Agreement and lease is contingent upon approval by the National Park Service because Freedom Park was developed using Land and Water Conservation Funds.
The lease for the new building will be brought back to the Board for approval at a later date. The major business terms of the Development Agreement are as follows:
Development Agreement
The County is responsible for the cost of the design and construction of the site and new building improvements within the County's $16,000,000 budget with any additional funds provided by DPI. DPI is responsible for the cost of design, fa...
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