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to a single- family homeowner, then the opportunity for redevelopment may be lost for quite a <br />while. <br />Biagini /CI Title: <br />Mr. Biagini is still struggling with his options regarding an addition to his current building. The <br />original development agreement required him to build another 15,000 square feet of <br />office /warehouse on the remaining parcel. However, 2001 property tax reform created a <br />significant deficit in TIF generated from these projects. (IIe pays about $54,000 per year with <br />about $34,000 attributable to the existing building.) While he has made all of his TIF guarantee <br />payments, I'm sure he would like to construct as much building as possible to minimize future <br />guarantee outflows. The challenge in doing that is pre - leasing. C. I. Title and Mr. Biagini were <br />unable to reach mutually agreeable lease terms. Mr. Biagini believes they will need expansion <br />space and he is contemplating constructing the building on his own. <br />One issue he wanted me to present to you was to deed the remaining site over to him at this time <br />so he could address site control. I have told him we will not do that until a revised development <br />agreement, evidence of construction financing, and a building permit for the new building are <br />obtained. I did say that as long as he makes his TIF guarantee payments, we have no incentive to <br />find another developer. Therefore, we would grant him exclusive rights on that basis. <br />Frattalone Property: <br />The existing Frattalone Excavating site on Spruce Street is for sale. Mr. Frattalone has asked <br />about "grand fathering rights" relative to the continuation of outdoor storage on the portion of his <br />parcel zoned I -P. (See map attached) Staff has told him that outdoor storage can continue on <br />that portion of the property as long as the new use is essentially the same as the former use. For <br />example, another contractor with heavy equipment would likely be ok, but a car repair business <br />that wants to store cars on that site would not be permitted. <br />Staff's interpretation is making it more difficult to sell the property. Mr. Frattalone felt that at <br />the time this area was rezoned, the understanding was different than what staff is now stating. <br />(See minutes attached.) I believe Mr. Frattalone will want to discuss this with the Council. <br />From my perspective, I would like to know if you would like staff to do further research into this <br />matter in order that you have the information you need for this discussion. <br />Mayor Fahey has met with Mr. Frattalone and can provide further insight into this matter. <br />