FARMINGTON -- City officials continue to tweak the small details of a development agreement with CenterCal for the development of Station Park.
The most recent change to the accord came Tuesday when the city council corrected an amendment to the agreement, clarifying guidelines for the valuation of properties in the project for the basis of impact fees.
The guidelines allow the company paying the fee to use either the architecture's assessed valuation of a building or the city's valuation during the process, but not to mix the two should any tenant improvements be made.
City Manager Dave Millheim said that, under the old language in the agreement, a company could have used the valuation from the architecture to pay fees from the shell of the building and then revert back to the city's valuation after improvements, thus minimizing any potential increase in fees.
Millheim said the changes save the city a potential loss of revenue and are also fair to the tenant.
Craig Trottier, vice president of development for CenterCal, described the changes as nothing significant.
"The development agreement amendment was just additional cleanup on old language," Trottier said.
In the meantime, Trottier and city officials are poised for the first store to open in the $250 million project. Harmon's grocery store is scheduled to open May 2, even as work on other storefronts is ongoing.
The village aspect and lifestyle center for the project are scheduled for startup later this spring.
CenterCal is the project developer for Station Park. CenterCal is one of five retail development joint venture partners of the California State Teachers Retirement System.
Years in the planning, Station Park is located on 67 acres just south of Park Lane and west of Route 89.