Memorandum

City of Lawrence

City Manager’s Office

TO:	David L. Corliss, City Manager
FROM:	Diane Stoddard, Assistant City Manager
CC:	Casey Toomay, Assistant City Manager
DATE:	August 7, 2014
RE:	Performance Agreement with HERE Kansas, LLC regarding the NRA for 1101 and 1115 Indiana

Please add the following item to the consent agenda for the August 12, 2014 consent agenda:

Authorize the City Manager to execute the performance agreement with HERE Kansas, LLC regarding the Neighborhood Revitalization Act project at 1101 and 1115 Indiana Street

Background:

On August 5, 2014, the City Commission approved second reading of an ordinance to establish a neighborhood revitalization area for the HERE Kansas project, a mixed use project planned for 1101 and 1115 Indiana Street. 

A performance agreement with the developer has been prepared. The agreement outlines that the NRA property tax rebate will stay in place according to the schedule set forth in the NRA plan and the performance agreement- this provides for a 10 year 85% rebate assuming a completion by December 1, 2016.  The performance agreement requires HERE Kansas to build the project as substantially described in the NRA plan in order to access the NRA incentive.  The performance agreement does not require HERE Kansas to build the project, however. 

Requested Action:

Authorize the City Manager to execute the performance agreement with HERE Kansas, LLC regarding the Neighborhood Revitalization Act project at 1101 and 1115 Indiana Street.