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CASE #8: REQUESl' FOR CITY PARrICIPATION (TAX INCREMENI' FINANCIR;) IN PRoroSED FACILITY AND REX;2UES'r FOR SITE PLAN RE.VIEH; CASE OF ATLAS INCINERATORS, INC. Background: Atlas Incinerators, Inc. is proposing to construct their corporate headquarters, manufacturing operations and research facility on 16 acres located northwest of Cty. Rd. #116 and Sunfish Lake Blvd. N.W. The facility will include 9,600 square feet of two-story office space; 28,000 square feet manufacturing area; and 28,000 square feet for a research and service facility. The buildings are proposed to be constructed of precast concrete. Atlas Incinerators, Inc. is requesting City participation in their proposed project for site improvements to the project including landscaping, storm drainage, site preparation, security lighting and security fencing~ In addition, Atlas Incinerators is requesting assistance with the cost of the land for the proj ect. The proposed project is located within Tax Incranent Financing District No. 2 and Developnent District No.1. For your information, the following items are enclosed: a) Site location map b) Proposed site plan c) Application for tax incranent financing Observations: The City's tax incranent financing policy requires Planning and Zoning Connnission review of all tax incranent financing requests with respect to the following: a) Is the request consistent with the City's Comprehensive Plan? b) Is the request appropriate under the City's Zoning Ordinance? The preliminary cash flow projections for the project show that the proposed project will generate sufficient increment for the City to be able to participate in the project as requested by Atlas. The Economic Developnent Connnission reviewed Atlas' request on May 11, 1988 and recommended City participation in the project as requested by Atlas. Recommendation: CoImnission Action: Motion to: Recommend approval/denial of the request by Atlas Incinerators, Inc. for City participation in their proposed project. -and- at