AG 1997 09 15 - Laserfiche WebLink

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July 1 I, 1997 The Mills Corporation 1300 Wilson Boulevard Arlington, VA 22209 Arm: Mr. James F. Dausch Exhibit 4-B RE: Concord Mills Dear Mr. Dauseh: This letm' shall constitute an amendment to that certain Memorandum of understanding adopted by the City of Concord and the County of Cabarms on July 10, 1997, a copy of which is auached hereto as ~ C'MOU"). This lemt~r shall be binding on tl~ City notwi~g that the County may not join in the execution of this letter. The City agrees that, notwithstanding the language of the MOU and in particular SchedOe i which provides that the Roadway Improvements and Upgrades are "unaqsigned', the City shall provide $2,000,000 to Developer to pay for such improvements. The $2,000,000 will be in addition to and not in lieu of any funds received from the City or by the Developer from other revenue sources (i.e. NCDOT) for the 'hrr~igned" roadway improvements and upgrades. The mechanism for the funding of the $2,000,000 will be set forth in the BA as defined in the MOU. The only condition gn-:_-ced_ ent to payment of the $2,000,000 will be execution of a mutually acceptable BA and the Developer's agreement to build the Project defined in the MOLl and called "Concord Mills". The undersigned represents and warrants to the Developer that he has full power and authority to execute this letter with the same authority neces~_,-y to execute the MOU. Sincerely, CITY OF CONCORD, ~ NORTH CAROLUqA Namd~Ldonard B. So~,,~on- Name: C-eorgeA~. Liles .. - ~'"--- Title: City Manager Title: Mayor Date of Execution: (cc's on page that follows) OFFICE OF THE MAYOR Cnv of Conco,d · 26 ~Jn,o,', S~,eet Somh * P.O. ~x 308 * Coe~otO, North Carolina 28026 * 1704} 786-6161 * Fax (704) 786-7068 -TDD 1-800-735-8262