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STAFF ORIGINATOR: Brian 1 1 <br />OA" : 4/29/96 <br />TOPIC: Consideration of tct for Private t velopment between Lino <br />La#o E`f !A and Northern es I Y <br />s the itio s for public assistance to <br />Northern Wholesale, which is locating on private land in the Clearwater Creek <br />Development Center. In this agreement the EDA agrees to reimburse the <br />developer $608,449 towards the cost of the property, special assessments, and <br />partial site preparation costs. A total of $333,449 will be presented "upfront' <br />when Northern Wholesale receives the Certificate of Occupancy, and the <br />remaining $275,000 will be reimbursed over time from available tax increment. <br />The agreement also limits delivery vehicles ai <br />the hours of 7 a.m. to 8 p.m. The city also has <br />tenants that will be occupying 40,000 square f <br />compliance with zoning and TIF regulations. <br />OPTIONS: <br />truck traffic on Cedar Street to <br />rht to preapprove any <br />e facility to ensure <br />1. Approve the development agreement between the EDA and Northern <br />Wholesale Supply <br />2. Return to staff <br />RECOMMENDATION: <br />Option.1 <br />