Laserfiche WebLink
Mayor and City Council <br />March 9, 1990 <br />Page 3 <br />Should the Council decide to proceed with the investigation of the <br />feasibility of this project, my recommendation would be that we <br />authorize staff to conduct negotiations with the developer on the <br />amount of the tax increment financing assistance justified and to <br />analyze the feasibility of this proposal. This would necessitate the <br />use of a consultant. I also feel the developer should enter into an <br />agreement whereby the City will be reimbursed for the cost of this <br />analysis. Should the project be deemed feasible as a result of this <br />analysis, a developer's agreement should be entered into which <br />stipulates specific terms and conditions. Obviously, one of these <br />terms would have to be the developer's study of the market area. <br />One other factor the Council should consider is that I have been <br />contacted by Mr. Jim Heinecke regarding the potential development of <br />a senior citizen's project at Jackson Street and Little Canada Road. <br />He has asked to meet with City staff Friday, March 16 at 2:00 p.m. to <br />discuss the project. I have informed him of our discussions on the <br />Barthel project. I also told him that this may be the appropriate <br />time for him to make his proposal and that the Council should have <br />all options available to it in making their decision. At this time <br />no specific details are known as to the extent of the project, if any <br />City assistance is needed, or other factors that may affect this <br />development. <br />JH:kv <br />p.s. I have also attached a projected statement of cash flow for the <br />Barthel development. <br />Page 15 <br />