River City Centre is subject to three very complicated and often conflicting agreements that were drafted when the project was created.

Staff has worked with our outside real estate attorney, Hellmuth & Johnson, to review all of the past agreements.  It is their recommendation to terminate all current agreements and to execute a new agreement that clearly spells out the roles and responsibilities of the CDA and the EDA.  

Basically, the EDA would be responsible to execute the current exterior revitalization plan.  The EDA would be be responsible for the surface/ground areas and the ground floor.  The CDA would be responsible for everything above the first floor.

The EDA would extend the ground lease with the CDA.  Expenses for each areas would be the responsibility of each respective area holder.