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AGENDA ITEM 4 <br />STAFF ORIGINATOR: Brian Wessel <br />DATE 12/21/98 <br />TOPIC: Consideration of Modification of Assessment <br />Agreement, F &G, Inc. <br />BACKGROUND: <br />In 1997 the EDA entered into a development agreement for financial assistance <br />with F &G, Inc. regarding a project within TIF District No 1 -7 in the Apollo <br />Business Pack. - The- agement- called-for the- construction of No buildings in <br />1997 and to third in 1998. The original assessment agreement, which sets the <br />minimum market value for the project, included the first two buildings. The third <br />building is now complete and a modified assessment agreement needs to be <br />completed to reflect the increase-in value. This modified agreement should be <br />completed before January 2, 1999 for taxes payable in 2000. <br />OPTIONS: <br />1. Authorize the execution of a modified assessment agreement for F &G, Inc. <br />2. Return t! staff for further consideration <br />RECOMMENDATION: <br />Option 1 <br />