BREAKING NEWS - Tentative Agreement Reached with Boca Grande, City of Ripon

The Ripon Common Council, by a unanimous vote, agreed tonight (Monday) to a tentative framework for a developer's agreement with the investment firm of Boca Grande, LLC. The firm has proposed a $30 million re-development in downtown Ripon, including a Republican President's Museum, several restaurants and a $12-14 million inn and spa.

"As I have said right up until Friday morning, there was no agreement in place between the City of Ripon and Boca Grande, LLC. We were literally negotiating right up to that evening," said Mayor Aaron Kramer. "It has been a very delicate balancing act to insure the safety of the public's money and the viability of the developer's investment. Several new pieces to the puzzle were added after we heard concerns from the public at the two informational meetings we held in August. I would stress that the negotiations have been and remain cordial and not adversarial, as we continue to work toward a project we believe is in the best interest of the downtown, the city, the developers and, yes, even the region."

The Council also approved a proposal to hold an informational meeting this Thursday evening at City Hall, beginning at 6 PM, to discuss the tentative framework of the agreement, and answer questions from the public. Officials from the City and Boca Grande are expected to be in attendance for the meeting.

"We will be bringing together financial numbers and projections, as well as a summary of the components of the financing package, so the public can ask questions," said Kramer. "The financing, the developer's agreement, the Tax Increment District being created for this project are all complicated and complex. I, along with the Council and Boca Grande, want as many residents as possible to understand the nuts and bolts of what we are doing."

The City Council is scheduled to vote on a final Developer's Agreement, which is being drafted, in closed session at its September 28th meeting.