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<br /> <br /> <br />REQUEST FOR COMMISISON CONSIDERATION <br /> <br />ITEM DESCRIPTION: Verbal Highlights of Development and TIF Agreements for Midtown Village <br />Townhomes <br />DEPARTMENT HEAD’S APPROVAL: <br />CITY MANAGER’S APPROVAL: <br />No comments to supplement this report ___ Comments attached ___ <br /> <br />Recommendations:  No action necessary <br /> <br />History:  Staff has actively been working with Scott Landsman from the law firm of <br />Hoff Barry, and Jennifer Boulton from Kennedy & Graven on Development <br />and TIF agreements respectively for the Midtown Village Development. <br /> <br />Financial Impact:  Significant over the long term. Ehlers estimates the proposed <br />development will result in $210K of yearly tax revenue going specifically to <br />the City upon the eventual decertification of TIF District #34. <br /> <br />Summary:  Both documents are currently being updated and are in flux, but staff is <br />hoping they will be substantially complete by the time of the upcoming <br />EDC meeting. Craig Schlichting will present highlights from both <br />agreements, provide verbal updates on next steps, and will answer any <br />commission questions regarding next steps. <br /> <br />Attachments: None. <br /> <br /> <br /> <br /> <br />________________________ <br />Ben Gozola, AICP, <br />Assistant Director of Community Assets and Development <br />Agenda Section: VI <br />Item: 1 <br />Report Date: 06/27/19 <br /> Commission Meeting Date: 07/03/19