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AfT <br /> MEMO TO: MAYOR AND CITY COUNC4 <br /> FROM: CLERK-ADMINISTRATE, <br /> riii" <br /> DATE: MARCH 8, 1990 <br /> SUBJECT: TACO BELL/KENTUCKY FRIED CHICKEN RESTAURANTS <br /> LAND BUY-DOWN <br /> The City has received a request from Everest Development to <br /> approve the payment of $110,530 in land buy-down costs related <br /> to the development of the parcel containing the Taco Bell and <br /> Kentucky Fried Chicken restaurants. Everest has also <br /> requested that the City enter into a Certificate of Completion <br /> and Release of Forfeiture for this parcel. <br /> The request has been reviewed by our tax increment attorney, <br /> Bob Dieke, who has found the documents and the request to be <br /> in conformance with the Contract for Private Redevelopment. <br /> Therefore, staff would recommend that the Council approve the <br /> payment of $110,530 to Everest Development Ltd. for land buy- <br /> down related to Parcel C and authorize the Mayor and Clerk- <br /> Administrator to enter into the Certificate of Completion and <br /> Release of Forfeiture. <br /> DFP/MJS <br />