Agenda - Council - 12/19/2000 - Laserfiche WebLink

Home

CASE # REQUEST FOR AUTHORIZATION FOR EXECUTION OF A DEVELOPMENT AGREEMENT WITH T & G LAND, INC. (TOM SAUTER) By: James E. Norman, City Administrator Background: The proposed development agreement with Tom Sauter, d/b/a/T & G Land, Inc. is a little more complicated than past tax increment financing development ageements. The proposed development agreement includes the acquisition of 8.77 acres of land northwest of the intersection of Sunfish Lake Boulevard and McKinley Street for compensation in the amount of $500,000. In exchange for compensation and approximately 18 acres of property in the new Gateway North Industrial Park (Maken property), the proposed development 'agreement will allow for the operations of Sauter's Landscaping Company and Copus Trucking to move to the Gateway North Industrial Park and allow the City to develop the property along Sunfish Lake Boulevard with new industrial buildings. The land received by T & G Land, Inc. will be broken into two portk~ns; 11.23 acres that will see the immediate construction of an approximately 40,000 square foot building that will be occupied by both Sauter and Copus Tracking. The project also calls for an option that could be exercised by Mr. Sauter for an additional 6.78 acres, which could possibly see the construction of an additional 42,000 square foot of building space. The TIF ageement also allows Mr. Sauter to receive $100,000 in site improvements for the Ma. ken property. The development agreement for this project is in excess of 40 pages. The City-has utilized a consistent and standard format except for the dollar amounts specific to this project and for the acquisition of land for the Maken property west of Sunfish Lake Boulevard. The City Council will also need to call for a business subsidy public hearing on January' 9, 2000, as part of the TIF assistance. Any changes in language are passed through the City Attorney for his review. Given the above, staff has attached the pertinent pages of the agreement for the Council review. There are changes currently being made in the agreement and a new draft will be distributed during the Council meeting of December 19. As Council is aware, other sections deal with inderm2ity, construction documents prohibit against assignments and. transfer, and a~eements to pay deficiencies. The entire agreement is available at Council request. Council Action: Motion to authorize execution of the development agreement with T & G Land, la~c., contingent upon review by the City Attorney. and - Motion to set a date for a business subsidy public hearing for T & G Land, Inc. for January 9, 2001. Reviewed by: City Administrator TIF Specialist City Attorney Community Development Consultant CC: 12/19/00