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Chairperson Steffen asked if TIF is not available because of the recreational use. <br />Economic Dev. Mgr/Assistant City Administrator Brama confirmed that recreational uses are not <br />available for TIF. <br />Mr. Kuker noted that the rent would be slightly smaller for this second building because there is <br />a lesser cost to build out the building. He noted that the cost for rent will be high than the <br />tenant was paying at their current location but confirmed that the tenant does have leas place <br />for this site which will be larger than their current location. <br />Chairperson Steffen noted that the timeline appears very tight. <br />• <br />Mr. Kuker agreed that the timing is very tight as the tenant has leks )1Sst n January 1, <br />2018. He stated that in essence the tenant is paying rent for 12 months of year while they <br />will most likely only use the facility six months out of the year as the soccer will be outdoors in <br />the warmer months. He noted that the tenant will be explorin options for additional activities <br />that could occur during the warmer months. He confirmed tha e tenant is currently not in a <br />location as the site he was previously located in has been c <br />Chairperson Steffen asked if the developer coul*ild th uiTcing within the timeline. <br />Mr. Kuker stated that the closing will occur on June 27th and he has received permission to begin <br />grading. <br />Community Development Directo ladhill noted that it is a very aggressive schedule and some <br />preapprovals can be given. H o d that the more they deviate from the regular schedule, the <br />more risk that will come. ted that the process can be sped up, but acknowledged that the <br />developer is willing to t n risk aid liability regarding grading and stormwater. He stated <br />that staff will do what they to be flexible. <br />Mr. Kuker acknowle there is risk that would fall on him. He stated that Adrenalin <br />would bring in , dditio tra is to The COR. He noted that if there is additional cost that arises <br />from speed proc : up, that cost can be split up between the future pads that will be sold. <br />Mem . li. , sked if that sensitivity would be part of the business subsidy analysis. <br />Eco <br />the rev <br />Mgr/Assistant City Administrator Brama confirmed that would be included in <br />Chairperson Steffen stated that he loves the project and the signage. <br />Member Williams stated that she has experience as a parent of a child that went to Adrenalin <br />Sports and once this is open she will go to Acapulco rather than stay at Adrenalin and believes <br />that many other parents will do the same and frequent businesses in The COR. <br />Economic Development Authority/June 8, 2017 <br />Page 6 of 8 <br />