Item Coversheet

10.A.2.


Shakopee City Council
March 6, 2018

FROM:Michael Kerski, Director of Planning and Development
TO:Mayor and City Council
Subject:
Approving an Interfund Loan for the advance of certain costs in connection with the proposed Tax Increment Financing District for the River Bluff Redevelopment
Policy/Action Requested:
Adoption of this resolution allows the EDA and the City to be reimbursed for costs associated with the redevelopment of these sites along First Avenue, Scott Street and Levee Drive. 
Recommendation:
Approve Resolution
Discussion:

This will allow reimbursement for property acquisition, title work, environmental studies, geotechnical studies and staff and consultant time.

 

Doggie Doos will be vacating early fall (acquisition and lease on this agenda)  and we will expect to have a draft development agreement to bring to the EDA in April or May.

 

The TIF work has been completed and will be updated once the final development plan has been completed and the TIF Public Hearing date will be set.

Budget Impact:
ATTACHMENTS:
Description
Resolution