Motion is to authorize the City Manager to execute and deliver the First Amendment to Reciprocal Easement and Development Agreement related to public improvements at Plant Riverside. The City entered into a Reciprocal Easement and Development Agreement for Plant Riverside dated November 22, 2016 (the “REDA”). By the REDA, the City and Plant Riverside agreed to certain reciprocal easements, construction obligations, terms and other conditions as part of Plant Riverside’s construction of the hotel project and its construction of related publicly facilities, including the extension of the existing “Riverwalk” pedestrian walkway (the “Riverwalk Property”) and Martin Luther King, Jr. Park (the “MLK, Jr. Park”). The City reviewed the planned work and approved it. The REDA contemplated that, upon the conveyance of these improvements into public ownership (Council accepted September 26, 2019), the City would grant Plant Riverside certain maintenance and use easements of these public improvements. For example, Plant Riverside will be constructing fountains and water features as well as other self-funded improvements. Besides provisions for Plant Riverside’s control and operation, the REDA requires Plant Riverside to maintain the improvements at its cost.

Attached is a copy of the proposed First Amendment to Reciprocal Easement and Development Agreement (Plant Riverside), with exhibits, together with a copy of the original REDA.

The City Attorney has reviewed the Agreement and concurs in its legal form.

Authorize the City Manager to execute and deliver the First Amendment to Reciprocal Easement and Development Agreement with Plant Riverside.