Description
Title: Resolution to Approve the Second Amendment to the Southtown Development Agreement - 1601 S. State St.
Summary
The Second Amendment to the South Town Development Agreement between the City of Ann Arbor and South Town by 4M LLC updates the terms of a previously established development project. This amendment aims to align the development agreement with a new site plan approved by the City Planning Commission on April 7, 2026. It modifies the park contribution requirement, stipulating that the developer must contribute $625 per dwelling unit to the city's parks and recreation services, totaling $180,625 for the 289 units planned. This funding will support improvements to local parks. The agreement remains effective upon the signing of all parties and retains other provisions from the amended development agreement. This legislation affects local residents by enhancing community recreational facilities through the developer's contributions.