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The City could participate with outside funding opportunities such as CDBG or LCA funds, both competitive <br />processes. The City could also participate through the creation of a new TIF District, as the Property currently lies <br />outside TIF District #14 encompassing The COR and surrounding areas. <br />The Developer also seeks to revise the approved site plan to introduce a new floor plan to the development. The <br />Developer states that the existing plat is very limiting. The area is zoned COR-4a, and the Development Guidelines <br />would apply. A conceptual site plan is included for the City Council's review. The Developer has provided Staff <br />with samples of other projects it has completed, with photos attached for the City Council's review. Based on <br />discussions with City Staff, Mr. Podawiltz has submitted revised architectural drawings for review. <br />The deadline for LCA funds is anticipated to be on or about May, 2012. Staff will revisit this funding source when <br />the funding cycle is opened for 2012, and bring back a case for consideration by the City Council. <br />Staff is working with the developer to explore options to secure the desired number of points for the HTC <br />Application. Potential sources include other grant opportunities and land donation of the adjacent sliver parcel <br />currently owned by the HRA. The Developer states it is seeking to secure 2.1% of the total development costs <br />through TIF, abatement, grants, donations, etc. <br />Recommendation: <br />Staff recommends that the City Council provide direction to Staff as to whether the City is interested in <br />participating financially to the Podawiltz development in Town Center Gardens 3rd Addition between $201,000 and <br />$471,000 through TIF, CDBG grants, LCA grants, land donation or other license/fee waivers. <br />Funding Source: <br />Review of the request is being processed as part of regular staff duties. If the Developer decides to proceed <br />forward with a land use application, an escrow will be established to handle costs associated with processing the <br />application in accordance with applicable City Code. <br />Council Action: <br />Based on discussion. Staff is looking for feedback as to the level of participation, if any, the City Council is <br />comfortable with either through grant applications or TIF assistance. The City Council would review the proposed <br />plat/site plan in greater detail if such application is submitted by the Developer. Specifically, Staff is looking for <br />policy feedback on the following: <br />1. Submittal of LCA Application <br />2. Establishment of TIF District and providing TIF assistance to the proposed project <br />3. Donation of HRA parcel <br />4. Waiving of application and license fees <br />5. Fast track approval processes <br />Attachments <br />Presentation <br />Site Location Map <br />Background on Section 42 Program <br />HTC Application <br />HTC Manual <br />Architectural Rendering <br />Site Plan <br />Floor Plans <br />Podawiltz's Previous Project Photos <br />