There is no set timeframe. Presently, the City Council has authorized the City Manager to negotiate with Woodfield Development, and the City Manager is currently in negotiations.
In the event that the City Manager and Woodfield Development negotiate the terms of a mutually acceptable Development Agreement, the essential terms of that Development Agreement will be presented in an outline form to the City Council for consideration. The City Council will determine whether to proceed further with the completion of the Development Agreement by vote of not less than three members of the City Council, and direct the City Attorney to draft the legal documents associated with the Development Agreement for further consideration by the City Council.
The City’s Land Development Codes outlines the process for a Development Agreement in Section 14.7.