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project could not happen within the reasonable future...city assistance is <br /> necessary in order for the company to preserve its limited capital for <br /> additional machinery), and has been reviewed by the County Board, School <br /> Board, and Planning Commission. <br /> Action Requested <br /> After conducting the public hearing on the TIF Plan for TIF District No. 15, <br /> the EDA is asked to adopt the attached resolution. Approval of the Plan is <br /> subject to the execution of the Contract for Private Development which the <br /> EDA should review and approve. <br /> It is recommended that the EDA formally recommend to the City Council <br /> that is select the option out provision for making a qualified local <br /> contribution of 10 percent of the TIF assistance to the District. The funds for <br /> this contribution will come from the monies generated from land transaction <br /> between the EDA and the School District for the Industrial Park lot. <br /> eda\meetings\tif15 <br />