Coversheet

Item:	TIF 4 Developer Designation Extension
Department:	Planning & Community Development

Background

On September 2, 2014 the Village Board designated Steve Leonard as developer for the TIF 4 redevelopment project. This designation was for 12 months with a three month extension. Therefore the developer designation ends in late November, 2015. Mr. Leonard has continued to work with Planning Department and his consultants, as well as the various property owners and prospective tenants. Attached is a summary letter from Mr. Leonard dated October 28, 2015 on the progress he has made to this point and the reasoning for the need for an extension.

Recommendation

It is recommended that the Board extend the designation of Steve Leonard as developer of the portion of TIF 4 south of Council Trail through to Golf Road, for a period of 14 months through the end of December 2016. Further the Board directs Staff to continue negotiations on a development agreement with Mr. Leonard.


	Bid Section

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ATTACHMENTS:
Description	Type
Letter 10-28-15	Correspondence