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• <br />• <br />• <br />AGENDA ITEM 6G <br />STAFF ORIGINATOR: Mary Alice Divine <br />DATE: 9/13/04 <br />TOPIC: Resolution No. 04 -135 calling for a public hearing to <br />Consider a Development Agreement with Legacy Holdings <br />Lino Lakes, LLC <br />BACKGROUND: <br />The Hartford Group is proposing to develop Legacy at Woods Edge, a mixed use <br />town center development on the southeast quadrant of 35E /Lake Drive. A <br />portion of the development is within Redevelopment Tax Increment Financing <br />District No. 1 -11. City staff and the city's financial and legal consultants have <br />been working with Hartford Group to develop a package for financial assistance <br />to the project to assist with improvements to Lake Drive /35W interchange area, <br />land write down and extraordinary site improvement costs. <br />This resolution calls for a public hearing at 6:30 p.m. on Monday, September 27, <br />2004 in the council chambers to consider the development agreement. <br />OPTIONS: <br />1. Adopt Resolution No. 04 -135 calling for a public hearing. <br />2. Return to staff for further consideration <br />RECOMMENDATION: <br />Option 1 <br />