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File #: 0200-23    Version: A Name: Subject: Communication sponsored by Mayor Mason seeking approval to enter into an incentive agreement and all associated documents with J. Jeffers & Co. for Phase IV of the Belle City Square (Horlick Historic District) Redevelopment at and near 2200 North
Type: Communication Status: Passed
File created: 2/23/2023 In control: Finance and Personnel Committee
On agenda: 3/7/2023 Final action: 3/7/2023
Title: Subject: Communication sponsored by Mayor Mason, seeking approval to enter into an incentive agreement and all associated documents with J. Jeffers & Co. for Phase IV of the Belle City Square (Horlick Historic District) Redevelopment at and near 2200 Northwestern Avenue. Recommendation of the Finance and Personnel Committee on 02-27-2023: That the Mayor and City Clerk be granted permission to enter into the Development Incentive Agreement with J. Jeffers & Co. for Phase IV of the Belle City Square Redevelopment and execute all necessary documents therein. Fiscal Note: Utility grants will come from the City Utility surcharge fund, necessary funds in the amount of $2M are available for this purpose. Bridge loan, $9M will be primarily funded by a loan from the Board of Commissioners of Public Lands. Pay go portion of the agreement will paid from tax increment created in the district.
Attachments: 1. BCS City Presentation 2.27 (003), 2. Memo- Phase IV Belle City Square Common Council, 3. #0200-23 Resolution

Title

Subject: Communication sponsored by Mayor Mason, seeking approval to enter into an incentive agreement and all associated documents with J. Jeffers & Co. for Phase IV of the Belle City Square (Horlick Historic District) Redevelopment at and near 2200 Northwestern Avenue.

 

Recommendation of the Finance and Personnel Committee on 02-27-2023: That the Mayor and City Clerk be granted permission to enter into the Development Incentive Agreement with J. Jeffers & Co. for Phase IV of the Belle City Square Redevelopment and execute all necessary documents therein.

 

Fiscal Note: Utility grants will come from the City Utility surcharge fund, necessary funds in the amount of $2M are available for this purpose.  Bridge loan, $9M will be primarily funded by a loan from the Board of Commissioners of Public Lands.  Pay go portion of the agreement will paid from tax increment created in the district.