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<br />CASE II: <br /> <br />if) <br /> <br />REOUEST FOR CITY PARTICIPATION (TAX IlCREMENr FINANCIl\G) IN PROPOSED <br />PRO.JEX:T, CASE OF MS. I<RIS FLumEL Am MS. SARAH SAWYER <br />By: Anne Norris, CoImnunity Developnent Director <br /> <br />Background: <br /> <br />Ms. Fluegel and Ms. Sawyer are proposing to construct and operate a dog <br />training school and retail pet supply store on the property at 14640 St. <br />Francis Blvd. N.W. They are proposing to construct a 7500 square foot <br />commercial building and are requesting that the City participate in the <br />project by financing approximately $50,000 of site inprovements. <br /> <br />The proposed project is located within Developnent District No.1. The <br />City would need to establish a Tax Increment Financing District to <br />accommodate this project1 the only district that is applicable is an <br />Economic Developnent District. <br /> <br />For your information, the following items are enclosed: <br /> <br />a) Site location map <br />b) ProJ;Osed si te plan <br />c) Application for tax increment financing <br />d) Resolution #87-213 establishing tax increment financing J;Olicy <br /> <br />Ms. Fluegel and Ms. Sawyer will be at the meeting to review their request <br />with the Commission. <br /> <br />'~\ Cbservations: <br />'-># <br /> <br />As you know, the City's policy regarding tax increment financing includes <br />Economic Development Commission review of all tax increment financing <br />requests with respect to the following: <br /> <br />a) Will the request lead to an increase in full-time permanent <br />employment opportunities in the City? <br /> <br />b) Will the request allow for the expansion or retention of an <br />existing local business? <br /> <br />c) Will the request lead to the development of certain publ ic <br />improvements which will in turn attract additional future <br />developnent? <br /> <br />d) Will the request encourage/assist future developnent in the area? <br /> <br />e) Will the request increase the tax base of the City? <br /> <br />The preliminary cash flow projections for the project show that the <br />proposed project will have to increase the value of the property by <br />approximately $200,000 in order to create sufficient increment for the City <br />to be able to participate in the project. <br /> <br />:J' <br />__J <br /> <br />I <br />