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REQUEST FOR COUNCIL CONSIDERATION Agenda Section: 1• <br /> 11111178 <br /> STAFF REPORTReport Number: 94-1051WS <br /> ° AGENDA SESSION DATE February 7, 1994 Report Date: 2-3-94 <br /> DISPOSITION <br /> Item Description: Presentation of Senior Housing Project Proposed by the Westminster Corporation <br /> Administrator's Review/Recommendation: <br /> - No comments to supplement this report <br /> - Comments attached. <br /> Explanation/Summary (attach supplement sheets as necessary.) <br /> SUMMARY; <br /> Westminster has submitted, via FAX, their formal request for TIF assistance <br /> for the proposed 80 unit senior housing project. While staff has not had <br /> sufficient time to review the current request (received it on February <br /> 2nd) , the proposal appears to be consistent with the Council's goal for a <br /> senior housing project subsidized with TIF funds. <br /> The proposal has been reviewed very preliminarily by Jim O'Meara who <br /> commented that the proposal has merit if: <br /> 1. The Council wishes to provide $1.5 million in pay-as-you-go <br /> TIF assistance over 15 years and <br /> 2 . The Council is confident that Westminster can deliver a <br /> quality development. <br /> At the January Work Session, staff reported the reference check that staff <br /> had conducted on Westminster. The references were very favorable. <br /> Additional follow-up will, of course, be done to ensure that all the <br /> principals have a positive history of accomplishing previous development <br /> projects on time and within the expected parameters. <br /> Staff recommends that subsequent to the Westminster presentation, the <br /> Council set a special meeting time to review the project with Jim O'Meara <br /> to determine the City's official position. <br /> Z4-11 } -0 <br /> Samantha Orduno, City Administrator <br /> RECOMMENDATION: <br />