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<br /> <br /> STAFF REPORT <br /> <br /> <br /> <br />TO: Mayor Keis and Members of City Council <br /> <br />FROM: Chris Heineman, City Administrator <br />DATE: September 22, 2021 <br /> <br />RE: South Owasso & Spruce Street Development Project <br /> <br /> <br />BACKGROUND INFORMATION <br /> <br />Staff provided preliminary information about a proposed 74,500 square foot industrial facility to <br />be located at the NW corner of South Owasso and Spruce Street. Staff has been working with the <br />proposed developer for the past 6-9 months on a proposed project at the previously undeveloped <br />site. Due to the poor soil conditions on this site, significant subsurface improvements are required <br />for a development of this nature to occur on this site. <br /> <br />Mikaela Huot from Baker Tilly provided preliminary revenue projections and financial feasibility <br />for the proposed industrial development project at this site at the workshop on September 8th. City <br />Council members were asked if they would be willing to offer public assistance through a proposed <br />Economic Development Tax Increment Finance (TIF) District if it was determined that this project <br />requires additional funding sources to assist with the subsurface improvements and other <br />extraordinary costs required to construct a 74,500 square foot industrial building on this site. <br /> <br />City Council members indicated that they would be open to offering public assistance if it was <br />determined that such assistance was necessary. Over the past two weeks, Mikaela Huot and her <br />team at Baker Tilly have completed additional financial review. Community Development <br />Director Corrin Wendell has also reviewed the proposal against both our current and the new <br />proposed zoning code regulations, and the proposed project meets all setback, access, dimension, <br />and parking requirements. Corrin stated that there may be additional landscaping requirements for <br />trees along Spruce and South Owasso Streets, but these can be added during the final site plan <br />review process. The following project details are attached for your information: <br />1) Architectural Site Plan <br />2) Scope of Services <br />3) Baker Tilly Memorandum <br /> <br />Additional details and analysis will be provided by Mikaela Huot at the City Council workshop. <br />Please feel free to contact me if you have any additional questions. <br /> <br /> <br /> <br /> <br />