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Regular Planning Commission <br />Meeting Date: 08/06/2015 <br />Submitted For: Patrick Brama, Administrative Services <br />By: Patrick Brama, Administrative Services <br />5. 5. <br />Information <br />Title: <br />Receive Future Business Park Infrastructure Analysis Preliminary Report <br />Purpose/Background: <br />PURPOSE: <br />The purpose of this case is to review a preliminary report from Bolton & Menk on required infrastructure <br />improvements to the City's future business park; and to take comments/ suggestions. <br />The EDA reviewed this document in July; and will be reviewing a revised version on August 13. Staff is not <br />looking for a specific motion or direction from the Planning Commission at this point. The intent is to simply <br />convey they information to the Planning Commission early in the process in order to frame future policy <br />discussions. That being said, Staff welcomes thoughts on the land use implications of the proposed future <br />improvements shown in the study. Adopting the study in no means obligates the City to any improvements or <br />investments. <br />For background on this work, please see attached RFQ. <br />Staff Note: <br />It is Staffs perspective, the "Project Financing" portion of this report is the last major outstanding item (page 11). <br />Bolton & Menk would like to receive comments/ amendments to this preliminary report before the "Project <br />Financing" section is completed. Staff intends to direct Bolton & Menk to develop multiple financing options. Staff <br />will also connect with other City's and private developers to identify alternative strategies for assigning costs/ <br />project financing. This report will be in front of the City Council on August 25. <br />Notification: <br />NA <br />Observations/Alternatives: <br />NA <br />Funding Source: <br />The study is being funded from the Tax Increment Finance (TIF) District No. 1 <br />Recommendation: <br />NA <br />Action: <br />Staff is not looking for a specific motion or direction from the Planning Commission. Staff is looking for general <br />comments/ questions/ suggested amendments to the report as it relates to land use implications of the study. The <br />EDA and City Council will be the primary reviewers of the financing sections of the study. <br />