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are not substantive. These changes were also reviewed and generally approved by the City Attorney, Ehlers, and <br />our staff development team. <br />1. Accepted developers request to include "and/ or assigns" in the opening statement. <br />2. Accepted developers request to use the "Public Infrastructure" terminology in the fourth whereas section <br />rather than "Phase I and II Improvements." <br />3. Updated Section 2 to reflect the developer's language preference, related to receiving a "credit" rather than a <br />"payment." <br />4. RE Section 3. Per a phone call between staff, Ehlers, and the developer -- staff reaffirmed the city's position <br />on the 4.5% interest within the TIF run. The developer wishes to be paid a higher rate of interest —but, it <br />appears they will accept the 4.5%. <br />5. RE Section 3. As requested by the developer, staff adjusted the TIF admin fee rate within the TIF run from <br />15% to 10%. This change doesn't effect the amount of TIF the city will receive from this project over the life <br />of the TIF District. <br />6. Per the developer's request, we added Section 4. Staff is comfortable with this timeline. <br />Action: <br />Motion to: <br />Approve the attached public infrastructure MOU with CAP Acquisitions. <br />Attachments <br />MOU <br />CAP Acquisitions Purchase Agreement <br />Bolton & Menk Infrastructure Study <br />Subsidy Policy <br />EDA Minutes <br />TIF Run <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich Kurt Ulrich 01/18/2018 01:43 PM <br />Form Started By: Patrick Brama Started On: 01/11/2018 01:43 PM <br />Final Approval Date: 01/18/2018 <br />