Subject: Communication sponsored by Mayor Mason, seeking to novate the incentive agreements with J. Jeffers & Co., approved by Common Council on March 7, 2023, under Resolution #0200-23, by entering into three separate incentive agreements with J. Jeffers & Co. for Residential Phase IV, Commercial Phase 1, and Commercial Phase 2 of the Belle City Square (Horlick Historic District) Redevelopment at and near 2200 Northwestern Avenue. Recommendation of the Finance and Personnel Committee on 09-23-2024: That the Mayor and City Clerk be authorized and directed to enter into three development incentive agreements with J. Jeffers & Co., for Phase IV of the Belle City Square Redevelopment and execute all necessary documents therein. Fiscal Note: The remaining Utility grants to be paid for C-2 of $500,000 will come from the City Utility surcharge fund. (40101 52420 Redevelopment Assistance). Bridge loan to the developer of $7.5M will be funded by a City borrowing from the Board of Commissioners of Public Lands.

Communication Passed Introduced April 26, 2024

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