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Economic Development staff requested a recommendation for Council to approve a fourth amendment to the Van Aken District Development and Use Agreement. The proposal would extend the developer’s exclusive purchase option for the northwest corner of Chagrin Boulevard and Warrensville Center Road, change the purchase price to account for 50% of utility-line costs, and require a reinvestment and potential redevelopment plan for Shaker Plaza.
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The proposed amendment would give the Van Aken District developer more time and updated terms to pursue development of the currently used parking and construction-staging site. If approved, the agreement would also require planning for possible improvements at Shaker Plaza. The provided excerpt records a request for committee action but does not state whether the committee recommended approval or whether Council acted.
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