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Energy Entertainment Proposal <br />August 11, 2008 <br />Page 2 of 2 <br />Last week, City staff and Ehlers met with Entertainment representatives and suggested that any <br />assistance would most likely be through the tax abatement pay-as-you-go process to recover <br />project costs, which is typically what has been utilized and is per the City/EDA policy guidelines. <br />The present-value analysis performed by Ehlers estimated the available tax abatement at slightly <br />less than $2.0 million (assuming a 20-year 100% City participation). <br />REQUESTED ACTION <br />The EDA is asked to review the latest information and discuss: <br />1. Whether to proceed with this proposal? <br />2. Whether to proceed with this proposal in this location? <br />3. What, if any, assistance is applicable for this proposal? <br />Staff stands ready to continue the analysis and placement of this project dependent upon EDA <br />review and discussion. <br />Attachments <br />^ EECHCC But-For Analysis -August 1, 2008 <br />^ EECHCC Venues & Space Usage -August 1, 2008 <br />^ EDA Meeting Minutes -October 8, 2007 <br />