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CASE i9: REQUEST FOR CITY PARrICIPATION (TAX INCREMENl' FINANCIN:i) IN PROPOSED FACILITY AND RmUEST FOR SITE PLAN REVIEW; CASE OF ALTROO, INC. Background: Altron, Inc. is proposing a 27,000 square foot expansion to their existing facility at 6700 Industry Avenue N.W. The expansion will be constructed to match the existing facility. Altron, Inc. is requesting City participation in the proposed expansion for site improvements for the project including site filling and grading, landscaping, drainage and security lighting. The proIX>sed project is located within Tax Increment Financing District No. 2 and Developnent District No. 1. For your information, the following items are enclosed: a) Site location map b) ProIX>sed site plan c) Application for tax increment financing Observations: The City's tax increment financing policy requires Planning and Zoning Commission reviev of all tax increment financing requests with respect to the following: a) Is the request consistent with the City's Comprehensive Plan? b) Is the request appropriate lmder the City's Zoning Ordinance? The preliminary cash flow projections for the project show that the proposed project will create sufficient increment for the City to be able to participate in the project as requested by Altron. Recomnendation: Commission Action: Motion to: Recommend approval/denial of the request by Altron, Inc. for City participation in the proposed expansion. -and- Motion to: Recommend approval/denial of Altron Inc. IS proIX>sed site plan. Review Checklist: Administrator ~ Attorney Engineer .JL Community Developnent Director .JL Chief of Police Finance Officer Public Works Superintendent Other ~s