HomeMy WebLinkAboutAGREEMENT LETTER - 16-00290 - 155 W 2nd S - Hemming Cedars II - Parking GarageAgreement between the City of Rexburg and Hemming Corp
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City of Rexburg
35 North 1" East
Rexburg, ID 83440
Hemming Corp
160 West 2nd South, Suite 200
Rexburg, ID 83440
This agreement, dated May 2/ , 2016, by and between Hemming Corp "Hemming" and The City of
Rexburg is entered into for the purpose of addressing a key issue surrounding the Hemming
development project located at 2"d South, between 1" and 2"d West in Rexburg, Idaho.
As part of the new project (phase II of Hemming Village) Hemming will be constructing a 485 stall, six
story parking structure to support the single student housing, married student housing and commercial
components of the project. Both parties acknowledge that the parking structure will be located within
ten (10) feet of the property line of the adjacent property (Birch Plaza), owned by Horizon Realty
Advisors, "HRA".
In the event that HRA, or any future owner of Birch Plaza, chooses to redevelop, expand or build a new
building within twenty (20) feet or less of the aforementioned parking structure, requiring the Hemming
parking structure to become a fire rated structure (based on the City Building Code on the date of this
signing); Hemming agrees to take the necessary steps to comply with the City Building Code by
retrofitting the parking structure to meet fire rating requirements. Hemming also agrees to complete
the required retrofits with one hundred eighty (180) days of notice from the City of Rexburg.
City of Rexburg
Corp
(This document to be recorded)
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