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C <br />MEMO 70: MAYOR AND CITY COUNCIL <br />FROM: CLERK -ADMINISTRATOR <br />DATE: AUGUST 13, 1986 <br />SUBJECT: JLN DEVELOPMENT TAX INCREI4ENT PROPOSAL <br />As has been previously reported to the City Council, staff has <br />F.een meeting with representatives of JLN Development, Inc. <br />regarding their proposal for the development of the Waste and <br />Beim properties. <br />As you may recall, the original proposal called for the <br />development of office/warehouse buildings, restaurants, and a <br />large shonping complex. This proposal has been revised to <br />provide for a restaurant office/service buildings, and office/ <br />warehouse buildings as outlined in the attached letter from JLN <br />dated August 12, 1986. <br />After three separate negotiation/discussion sessions between JLN <br />representatives and City staff (Don Pauley, Steve Thatcher, and <br />Walt Hartman, the City's tax increment consultant) a basic <br />proposal for, a tax increment agreement, copy attached, was <br />submitted by staff to JLN. From the written comments of JLN, it <br />would appear they wish to negotiate this proposal further, <br />however, staff feels that little is left for negotiation in order <br />to secure the interest of. the City adequately. Should the <br />Council determine that they wish to pursue this proposal further, <br />a Tax Increment Plan will need to be prepared by our consultant. <br />JLN has submitted $5,000 in escrow funds to secure the City's ' <br />costs for this ?lan and any other necessary expenses. <br />At the same time the City Council is considering the tax <br />increment nnrtion of the nrnnna;al and oreoarinq a Plan, the: <br />Planning Commission will be reviewing the development proposal <br />and request for rezoning from B-3 to B-2 for the office/service <br />and restaurant portions of the project. In order to meet the <br />September 30th deadline JLN has for fulfilling their purchase <br />options, assuming extensions cannot be negotiated or granted, the <br />following schedule has been prepared. <br />8/18 Tax Increment proposal presented to Council at <br />agenda session <br />8/20 Planning Commission reviews site plan and <br />development proposal <br />25 Council authorizes preparation of plan and sets <br />public hearing <br />9/03 Tax Increment Flan presented to Planning Commission <br />/ 9/OS Council reviews Planning Commission development <br />review recommendations and set public hearing <br />