Memorandum
City of Lawrence
City Manager’s Office
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TO: |
David L. Corliss, City Manager |
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CC: |
Diane Stoddard, Assistant City Manger Casey Toomay, Assistant City Manger |
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FROM: |
Britt Crum-Cano, Economic Development Coordinator |
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DATE: |
October 21, 2014 |
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RE: |
Final City Commission consideration of NRA for 900 Delaware Street |
Please see List of Attachments at the end of this memo.
The City, County, and School District have received and considered the request from 9 Del Lofts LLC for public assistance related to the 900 Delaware Street Property. Specifically, the company requested the participation of the City, County, and School District in a 15-year, 95% NRA rebate of the incremental real property tax revenues generated by the property.
This request was received by the City Commission at its August 26, 2014 meeting and referred to the Public Incentives Review Committee for review and recommendation.
PIRC Recommendation
At the 9-9-2014 PIRC meeting, the committee voted unanimously to recommend participation of all taxing jurisdictions in a 15-Year, 95% NRA for 900 Delaware Street. Draft minutes of the 9-9-2014 PIRC meeting are attached.
City Commission Actions
At the 9-23-2014 City Commission meeting, the Commission held a public hearing and voted unanimously to authorize the establishment of and City participation in a 15-Year, 95% NRA for 900 Delaware Street.
School Board Actions
On October 13, 2014, USD 497 School Board considered participation in the NRA and unanimously approved participation in a 15 year, 95% NRA.
County Commission Actions
On October 15, 2014, the Douglas County Commission considered participation in the NRA and approved participation in a 15 year, 95% NRA on a vote of 3-0.
Requested City Commission Actions
Consider City participation in a 15-year, 95% NRA for 900 Delaware Street via second reading of Ordinance No. 9040.
If NRA participation is approved, authorize the City Manager to execute a:
o Cooperative agreement between the City, County and School District on NRA administration.
o Performance agreement between the City and Applicant.
List of Attachments: 900 Delaware Street NRA