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<br />5 Minutes CASE #2: <br /> <br />REQUEST FOR CITY PARTICIPATION (TAX <br />INCREMENT FINANCING) IN PROPOSED PROJECT; <br />CASE OF MR. TODD ELOFSON <br />By: Anne Norris, Community Development Director <br /> <br />Background: <br /> <br />Mr. Todd Elofson is proposing to construct a 40,000 square foot facility in two <br />phases on his plat south of U.S. Highway #10 and west of Sunfish Lake Blvd. <br />N.W. The facility will be constructed of rock-face concrete block. <br /> <br />Mr. Elofson is requesting approximately $270,000 in City participation for site <br />improvements for the project including site filling and grading, landscaping, <br />drainage and security lighting. <br /> <br />The proposed project is located within Tax Increment Financing District No. 4 <br />and Development District No.1. <br /> <br /> <br />Enclosed are the following items for your information: <br /> <br />a) Site location map <br />b) Proposed site 'plan <br />c) Request for City participation <br /> <br />Observations: <br /> <br />The Economic Development Commission reviewed Mr. Elofson's request on July 13, <br />1988 and recommended approval provided the project will generate sufficient <br />increment. <br /> <br />The Planning and Zoning Commission approved Mr. E10fson's request on July 13, <br />1988. <br /> <br />Recommendation: <br /> <br />Council Action: <br /> <br />Motion to: <br />Approve/deny the request by Mr. Todd Elofson for City participation ~n the <br />proposed project. <br /> <br />Review Checklist: <br /> <br />Administrator <br />Attorney <br />Engineer <br />Community Development Director <br />Economic Development Commission <br /> <br />Chief of Pol ice <br />Finance Officer <br />Public Works Superintendent <br />Planning and Zoning Commission <br /> <br />L <br /> <br />...L <br />-L. <br />...L <br /> <br />3/ <br />