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Conduct a public hearing and consider a resolution approving the terms and conditions of a program to promote local economic development and stimulate business and commercial activity in the City, authorizing the City Manager to finalize and execute an Amended and Restated Economic Development Program Agreement (Chapter 380 Agreement) and related Amended and Restated Lease Agreement for such purposes with ADJ Restaurant Group, LLC, for the continued development and operation of a restaurant in a City-owned building located in Downtown Mesquite at 117 West Main Street, Mesquite, Texas (the "Premises") and to terminate the existing agreements with the company for the same purposes, providing for the lease of the Premises with an option to purchase the Premises for such price and upon such terms and conditions as set forth in the Agreement and Lease, and authorizing the City Manager to administer the Agreement and Lease on behalf of the City.
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In 2018, the City of Mesquite purchased the property located at 117 West Main Street in Downtown Mesquite with the goal of utilizing the property for downtown development purposes. In 2019, the City issued a Request for Qualifications to seek respondents interested in developing a restaurant at the property.
ADJ Restaurant Group was selected to partner with the City of Mesquite for the restaurant project. Through a Chapter 380 Agreement and Lease Agreement executed on September 15, 2019, terms and obligations necessary for the development of a restaurant at 117 West Main Street included:
* ADJ Restaurant Group to provide all tenant finishes in addition to all fixtures, equipment, fittings and furnishings as detailed in Exhibit E of the Lease.
* ADJ Restaurant Group to operate full-service restaurant with bar, indoor and outdoor dining and live entertainment.
* ADJ Restaurant Group to receive a Certificate of Occupancy and be in operation on or before Jan. 31, 2021
The lease agreement also provided for ADJ Restau...
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