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k ‘4 <br /> THlS IS IT . . . . <br /> For the Week of June 27 - July 1 , 1994 <br /> ADMINISTRATION <br /> Well, DRAFT NO. 1 of the 1995 Budget will be delivered to Council on Friday. It is the <br /> result of more hours of work by staff than any other single document in recent history. <br /> Amidst all the stressful hours, Don Brager managed to lighten our day with the Top <br /> Ten Reasons Why the City is Changing to Program Budgeting. I have included it <br /> herein for your enjoyment. <br /> Hill and Multi-Tech <br /> The Agreements on both developments have been executed. The park dedication <br /> fees from Everest for the Hill project has been received. Unfortunately, all is not <br /> complete. It seems that part of the Outlots which are included in the Hill project are <br /> encumbered in a 1988 Development Agreement in which the City provided over $8 <br /> million in TIF. Everest sent a letter to Jim Thomson last week requesting that the City <br /> release the properties from the previous development commitment. I forwarded a <br /> copy to Jim O'Meara who has some questions regarding the inclusion of the land in a <br /> previous grant of TIF. As of this writing, Jim had not received the Release form from <br /> Tim Nelson, so he is "sitting" on this issue. The bottom line may be that TIF <br /> assistance was given for a portion of the property Everest wants to include in the Hill <br /> project. If the release is granted, it may mean that the project is receiving TIF funds <br /> twice on the same land. I should have more information for you on Wednesday. <br /> Multi-Tech has begun construction on their addition! <br />