Laserfiche WebLink
Next Steps-Council Direction <br /> In order for the developer to be comfortable moving forward with the project and working on a formal site plan <br /> submittal,they will need to know if the City Council is supportive of the following development terms: <br /> •Creation of 25 TIF Housing District and the provision of approximately 3M in TIF (90%/10% Split) <br /> •City funding 80% (Approximately$733K) for the extension of Peridot St NW with a cul-de-sac and adding <br /> this project to 2025 CIP <br /> •Allowing the project to move forward without construction of Veterans Drive NW to Peridot St NW(Cost <br /> of Veterans Drive estimated to be 860K 100% funded by City) <br /> • Support of rezone from COR-3 to COR-4c for use in this area of the COR Development(shift from places <br /> to work to place to live) <br /> Roger Fink from Trident Development will be present to answer questions and to add greater detail about his <br /> company and proposed project. <br /> Timeframe: <br /> 15-20 Minutes <br /> Funding Source: <br /> To be determined. It could be a blend of TIF,bonding and general fund if portions of the project are added to the <br /> 2025 CIP. <br /> Responsible Party(ies): <br /> Economic Development Director Sullivan <br /> Community Development Director Hanson <br /> Outcome: <br /> Communication to developer on the level of Council support for the proposed project and willingness to provide <br /> assistance, so the developer can make a decision to proceed. or not. <br /> Attachments <br /> Sie Location Map <br /> Site Plan <br /> Valuation Tax and TIF Summary <br /> Site Plan Zoom <br /> Form Review <br /> Inbox Reviewed By Date <br /> Brian Hagen Brian Hagen 03/07/2024 08:55 AM <br /> Form Started By:Sean Sullivan Started On:02/29/2024 02:09 PM <br /> Final Approval Date:03/07/2024 <br />