Memorandum

City of Lawrence

City Manager’s Office

TO:	David L. Corliss, City Manager
CC:	Diane Stoddard, Assistant City Manger Cynthia Wagner, Assistant City Manger
FROM:	Britt Crum-Cano, Economic Development Coordinator
DATE:	June 17, 2014
RE:	Neighborhood Revitalization Area and Industrial Revenue Bond Request for 1101/1115 Indiana Street

Please place the following item on the agenda for the June 17, 2014 City Commission meeting:

Receive request from HERE Kansas LLC,  to establish a Neighborhood Revitalization Area and Industrial Revenue Bonds for the property located at 1101/1115 Indiana Street, refer the item to the Public Incentive Review Committee and set July 8, 2014 as the date for a public hearing on the proposed NRA and Revitalization Plan.

Introduction

The City is in receipt of a request from HERE Kansas LLC, Inc. to establish a Neighborhood Revitalization Area (NRA) and stand-alone Industrial Revenue Bonds for the property at 1101/1115 Indiana Street.

HERE Enterprises, LLC, is proposing the redevelopment of the property into an upscale, 7-story, mixed-use, student housing community.  The proposed $75.5 million project will include approximately 239 high-end apartment units, first floor retail consisting of approximately 14,051 square feet to accommodate multiple retail users, and an automated robotic parking garage. 

Requested Action

Receive request from Here Kansas LLC to establish a Neighborhood Revitalization Area and Industrial Revenue Bonds for the property located at 1101/1115 Indiana Street, refer the item to the Public Incentive Review Committee and set July 8, 2014 as the date for a public hearing on the proposed NRA and Revitalization Plan.  The Industrial Revenue Bonds are to be considered at a later date, once all project costs are known.