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· Allowance for construction of a berm along the south/southwest <br />lot lines of the site 35,000 <br />· Incentive loan at interest rate of 6.5% & term of 10 years 50,000 <br /> <br />Project Assumptions <br /> <br />· Phase I - Minimum building size of 50,000 s.f. <br />· Phase II - Future expansion - minimum building size of 20-35,000 s.f. <br />· Business Park standards for construction <br />· Specific standards to be met for creating new jobs vs relocation of existing jobs <br /> <br />Other issues/activities to be completed as part of this project include: <br /> <br />· execute purchase agreement with Tony Emmerich <br />· Tony Emmerich to complete plat of property <br />· negotiate details of Development Agreement <br />· coordinate a developer/EDA worksession to discuss details of <br /> project <br />· EDA to consider Developer Agreement at February meeting <br />· determine funding sources for up-front dollars <br />· review micro loan application with EDA Finance Committee <br />· EDA to consider micro loan at February meeting <br />· close deal in March 1999 <br /> <br />Attachments <br /> <br />· Resolution 98- <br />· Tax Increment District No. 21 Schedule <br /> <br />Recommendation <br /> <br />St~W recommends approval of Resolution 98- calling for a public hearing <br />to be scheduled for establishment of TIF District No. 21. <br /> <br /> <br />