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City of Concord acquisition of part of the former West Cabarrus <br />Church property adjacent to Rocky River Golf Club from Landex <br />(15 acres); <br /> <br />Landex acquisition of the City of Concord property on Speedway <br />Boulevard and Weddington Road extension (outparcels 9, 16, 17 <br />and 18 and a tract of+22 acres); <br /> <br />Cabarrus County Tourism Authority acquisition of Landex <br />property adjacent to the hotel conference center site (approx. 16 <br />acres); <br /> <br />Developer acquisition of the former West Cabarrus Church <br />property adjacent to Rocky River Golf Club from the City of <br />Concord which the City acquired from Landex (15 acres). <br /> <br />Golf Course Expansion. If projected and guaranteed use of Rocky River' <br />Golf Club indicates that expansion of the course is both feasible and <br />needed, the parties acknowledge that such e. xpansion would be desirable. <br />It shall first be documented that expansion Is required for the benefit and <br />enjoyment of the citizens of Concord and Cabarrus County and to meet <br />additional demand created by the Concord Marriott. In order to <br />accomplish such, the following actions will be considered: <br /> <br />Feasibility Study Update. At the expense of the Developer, the <br />City will have the golf course feasibility study updated regarding <br />the need for expansion. Considerations to be examined will <br />include, but not be limited to, the current level of use, projected <br />growth of the community and region, and projected use associated <br />with the Concord Marriott and Conference Center. If the study <br />substantiates the need for expansion, the City agrees to discuss <br />such expansion with the Developer; <br /> <br />Guaranteed Rounds. Based on the study, the Developer will <br />guarantee payment for a minimum number of 18-hole golf rounds <br />annually (to be negotiated) for a period of up to 10 years (to be <br />negotiated); <br /> <br />Land For Expansion. If expansion is feasible and approved by the <br />Concord City Council, the City will acquire from Landex a tract of <br />land across Rocky River from the existing golf course at a cost to <br />be negotiated at a future date; <br /> <br />Expansion Construction. The City will administer contracts to <br />develop the golf course expansion, if expansion is approved. <br /> <br />Filename - S :~Plann [ng\MOU-Marrio~t <br /> <br />-4- <br /> <br />Revised <br /> <br /> <br />