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<br />The mechanics of a land write-down generally are that the City will agree <br />to purchase a parcel fram the seller for some price and turn around and <br />sell that parcel to a developer for another, lower price. That is, the <br />City does not generally issue a check to the developer for the difference <br />between the selling price and the developer's price. <br /> <br />Cash flow projections for the apartment proposal show that the project will <br />generate sufficient increment for the City to consider participation as <br />requested in the project. <br /> <br />Recommendation: <br /> <br />Conmission Action: <br /> <br />Motion to: <br />Recommend approval/denial of the request by Mr. Rick Foster and Mr. <br />Duke Carlson for City participation in the proposed apartment project. <br /> <br />I <br /> <br />Review Checklist: <br /> <br />\. <br /> <br />Administrator <br />Attorney <br />Engineer <br />Conununity Developnent Director ...x... <br /> <br />Chief of Police <br />Finance Officer <br />Building Official <br />Bond Counsel <br /> <br />.JL <br />...L <br /> <br />2- <br />