HomeMy WebLinkAboutPayment Proposal for City of Rexburg Development Agreement
1070 RIVERWALK DR. #266, IDAHO FALLS, ID 83402
T 208-680-3149 U WWW.H2VENTUREPROPERTIES.COM
September 25, 2024
1070 Riverwalk Dr. #266
Idaho Falls, Idaho 83440
Dear Mr. Davidson,
I would like to propose a payment structure for the Teton View Development that aligns with
the phased plan. Specifically, we suggest submitting 20% of the Development Agreement Costs
upon receiving approval from the Planning and Zoning Department, as well as the City of
Rexburg. Following this initial payment, we would continue with payments of 20% for each
subsequent phase prior to the issuance of Certificates of Occupancy.
Here’s a breakdown of the proposed payment structure:
Total Amount Due: $106,195.74
• Initial Payment (20% upon approval): $21,239.15
• Phase Payments (20% each for Phases 1-3): $21,239.15
• Final Payment for Phase 4: $21,239.14
This structure will enable us to utilize our loans for the project while maintaining equal payment
amounts across each phase after the initial investment into the City of Rexburg post-approval.
Please let me know if you have any questions or require further details. I look forward to your
feedback.
Sincerely,
Steven J. Hansen
H2 Venture Properties, LLC