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�.a <br />expense. <br />Recommendation: <br />Staff recommends the HRA review the proposed compensation schedule for the Flaherty and Collins - The <br />Residence at The COR project and approve Development Management Compensation in the amount of $280,373; <br />with $180,373 of that amount to be paid with the Flaherty and Collins project, and $100,000 of that amount to be <br />paid with the next development project that nets development proceeds sufficient to cover this expense. <br />Funding Source: <br />Development Management Incentive compensation is paid from proceeds of the land sale. <br />Council Action: <br />Approve Incentive Compensation in the amount of $280,373 for The Residence at The COR project to be located <br />on Lot 3, Block 1, COR ONE. <br />Fiscal Impact <br />Budgeted Y/N: N <br />Budgeted Year: 2011 <br />Fund: HRA <br />Funding: <br />Development Management Fee will be funded by proceeds of the land sale. <br />Attachments <br />DM Contract <br />F&Cfeedocs <br />F&C fee docsl <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich Kurt Ulrich 12/09/2010 06:12 PM <br />Foim Started By: Heidi Nelson Started On: 12/08/2010 02:53 PM <br />Final Approval Date: 12/09/2010 <br />