HomeMy WebLinkAboutJEFFERSON COMMONS PUD - PRELIMINARY - 50-95 - REPORTS - LETTER OF INTENTJPI
P.O. BOX 619208 • DALLAS, TEXAS 75261-9208
March 6, 1996
LETTER OF AGREEMENT
Jim Smith
Smith Investments, Inc. VIA HAND DELIVERY
125 South Howes
Fort Collins, CO
Re: Jefferson Commons PUD
Dear Jim:
This correspondence is intended to serve as a letter of
agreement between Sunray Investments ("Sunray") and JPI Texas
Development, Inc. ("JPI"). Sunray is the owner of the apartment
project located in the Sunray Place PUD. JPI is the developer of
the proposed Jefferson Commons PUD. Jefferson Commons is located
immediately to the west of Sunray Place. Both Plum Street and
Orchard Place dead end at the western boundary of Sunray Place.
Sunray and JPI have had discussions related to potential impacts
which the Jefferson Commons project could have on Plum and Orchard.
It is understood that the City is requiring the developer to
construct the connection of Orchard Place through Jefferson
Commons. It is further understood that the City will likely
require JPI to construct a cul-de-sac where Plum currently dead
ends. Sunray agrees that it will cooperate with JPI's construction
of the improvements required by the City. JPI has agreed that it
will provide a minimum of 30 days notice to Sunray prior to
commencing any road improvements. JPI further agrees that it will
attempt to construct its improvements in such a way as to avoid
imposing on any unreasonable burden on Sunray or its tenants.
JPI Texas Development, Inc.
J. Patrick Rhamey
Development Associate
Sunray Investments, Inc.
/ im Smith, President
600 EAST LAS COLINAS BLVD. • CIGNA TOWER, SUITE 1800 • IRVING, TEXAS 75039 • (214) 556-1700 • FAX (214) 556-3784